What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is

A. The extra attention paid to top-notch product performance and product quality

B. Their concentrated attention on serving the needs of buyers in a narrow piece of the overall market

C. Greater opportunity for competitive advantage

Question

Brenton Payne

Business

27 April, 20:27

What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is

A. The extra attention paid to top-notch product performance and product quality

B. Their concentrated attention on serving the needs of buyers in a narrow piece of the overall market

C. Greater opportunity for competitive advantage

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Answers (1)

Know the Answer?

Joyce Kim · Answer 1

Their concentrated attention on serving the needs of buyers in a narrow piece of the overall market

Answer: Option B.

Explanation:

There are certain strategies which the producer might keep in mind so that they can maintain a position in the market when there is competition at such a high level.

Some of such policies and strategies are the low cost strategy where the focus is on reducing the price of the production of the goods. The producer should also focus on keeping a track of need of the consumers so that the production is according to that to meet the needs.