Which of the following best describes the primary goal of a focused niche strategy?
A)adding special features or unique add-ons to a product for which customers agree to pay more
B)tailoring products and services based on the special preferences of a small group of customers
C)offering similar products at lower prices than competitors in a market
D)developing innovative products that threaten the survival of competitors' products

Question

Quizplus · Accepted Answer

A focused niche strategy is all about tailoring products and services to meet the specific preferences of a small group of customers. This can be achieved by researching the desires and needs of a particular market segment and providing a unique value proposition that meets their specific needs. The goal is to differentiate the products and services from competitors and create a loyal customer base.

Which of the Following Best Describes the Primary Goal of a Focused