What Sets Focused (Or Market Niche)strategies Apart from Low-Cost Leadership

question 114

Multiple Choice

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.
• D)their suitability for market situations where most industry rivals have weakly differentiated products.
• E)their objective of delivering more value for the least money.

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Definitions:

Recourse

The right of an individual or entity to seek compensation or legal redress in the event of a breach of contract or other legal injury.

Negotiable

Describes items, like certain documents, that can be transferred from one party to another with the endorsement or delivery, retaining its value.

Ninety Days

A time period equivalent to approximately three months or 90 consecutive days.

Promise

A declaration or assurance that one will do something or that a particular thing will happen.