A focused differentiation strategy aims at securing competitive advantage
A)by providing niche members with a top-of-the-line product at a premium price.
B)by catering to buyers looking for an upscale product at an attractively low price.
C)with a product or service offering carefully designed to appeal to the unique preferences and needs of a narrow,well-defined group of buyers.
D)by developing product attributes that no other company in the industry has.
E)by convincing affluent buyers that the company has a true world-class product.

Question

Quizplus · Accepted Answer

A focused differentiation strategy targets a specific, narrow market segment with a unique product or service that meets their distinct needs and preferences. This allows the company to charge a premium price for their offering, as they are the only ones providing such a tailored solution. It is not necessarily about having the best product in the industry or appealing to affluent buyers, but rather providing a specialized solution for a specific group of customers.

A Focused Differentiation Strategy Aims at Securing Competitive Advantage