What Strategy Involves a Company Working on Serving the Needs

question 54

Multiple Choice

What strategy involves a company working on serving the needs of a narrowly defined market segment?

• A) differentiation strategy
• B) focus strategy
• C) stability strategy
• D) retrenchment strategy

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Definitions:

Resources and Capabilities

The tangible and intangible assets that a firm utilizes to develop, manufacture, and deliver products or services to its customers.

Sustainable Advantage

An enduring benefit or competitive edge that a company can maintain over its competitors, often through innovation or strategic resource management.

Supplier Power

The ability of providers of goods or services to drive up prices and dictate terms because of their importance or scarcity.

Critical Inputs

Essential resources or factors required in the production process or for the delivery of a service that significantly impact the quality and output of the final product.