The principle behind a ________ strategy is to select one or more market segments,identify customers' special needs,and approach them with a good or service designed to excel in meeting these needs.

Question

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The principle of approaching a specific market segment with a good or service designed to excel in meeting their needs is known as a focus strategy. This strategy is aimed at serving a narrow target market and achieving competitive advantage by offering a unique value proposition to that specific market. The other options, cost-leadership and differentiation, are broad strategies that can be used in conjunction with a focus strategy, while "concentration" is not a recognized strategy.

The Principle Behind a ________ Strategy Is to Select One