What is the key to success when a company adopts a focused strategy?
A) lower costs than all other competitors
B) customer loyalty
C) a lack of competition
D) being the first-mover into the market

Question

Quizplus · Accepted Answer

When a company adopts a focused strategy, it narrows its target market to a specific group of customers. By serving these customers exceptionally well and tailoring its products or services to their specific needs, the company can cultivate strong customer loyalty. This loyalty helps the company maintain a stable customer base even in the face of competition and contributes to its long-term success.

What Is the Key to Success When a Company Adopts