A small business following a focus strategy attempts to serve its narrow target markets more effectively and efficiently than competitors trying to appeal to the broad market.

Question

Quizplus · Accepted Answer

This statement is true. A small business following a focus strategy tailors its products, services, and marketing efforts to a specific niche market, allowing it to compete more effectively than larger competitors trying to appeal to a broad range of customers. By understanding the unique needs and preferences of their target market, small businesses can differentiate themselves and create a loyal customer base.

A Small Business Following a Focus Strategy Attempts to Serve