Differentiating the product or service for a particular segment of the market is called a ________.
A)market leadership strategy
B)focused niche strategy
C)market penetration strategy
D)cost leadership strategy

Question

Quizplus · Accepted Answer

Focused niche strategy involves tailoring the product or service to meet the specific needs of a particular segment of the market. This can be achieved through customization, personalization, or targeting a specific demographic or geographic area. This strategy can help a company differentiate itself from competitors and establish a strong position in a smaller, but more profitable, segment of the market.

Differentiating the Product or Service for a Particular Segment of the Market