When Analyzing Porter's Three Generic Strategies for Entering a Market

question 69

Multiple Choice

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you target?

• A)A niche market.
• B)A broad market.
• C)Neither niche or broad markets.
• D)Both niche and broad markets.

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Definitions:

Compensating

Making up for a deficiency or lack in one area by excelling or emphasizing another.

Real Self

An individual's authentic self-concept, based on actual attributes and achievements, as opposed to their idealized view of themselves.

Self-Awareness

Awareness of one's own personality, emotions, motivations, and wants.

External Locus of Control

A belief that one's life outcomes are largely influenced by external forces or fate rather than one's own actions.