Businesses pursuing a __________ seek a competitive advantage by concentrating on one special market segment and trying to offer customers in that segment a unique product.

Question

Quizplus · Accepted Answer

The given statement describes the focused differentiation strategy, where businesses target a specific market segment and offer a unique product to gain a competitive advantage. Choice A, differentiation strategy, is a broader approach that focuses on offering a unique product or service to appeal to the broader market, while choice B, cost leadership strategy, aims to offer the lowest possible price to gain a competitive advantage. Choice D, focused cost leadership strategy, focuses on offering the lowest price to a specific market segment, while choice E, restructuring strategy, refers to a significant change or reorganization in a company's operations or structure.

Businesses Pursuing a __________ Seek a Competitive Advantage by Concentrating