A Focus Strategy Can Be Achieved by Competing on the Basis

question 24

Multiple Choice

A focus strategy can be achieved by competing on the basis of:

• A)broad product line,customer or geographic segmentation,focused functional capability
• B)narrow product line,customer or geographic segmentation,focused functional capability,keeping costs down
• C)narrow product line,customer or geographic segmentation,focused production capability
• D)small profit margin,customer or geographic segmentation,focused functional capability

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Definitions:

Pure Monopolist

A market structure where a single firm controls the entire market for a product or service, with no close substitutes and high barriers to entry.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold.

Upsloping Curve

A graphical representation showing a positive relationship between two variables, where an increase in one variable results in an increase in the other.

Average Revenue

Total revenue from the sale of a product divided by the quantity of the product sold (demanded); equal to the price at which the product is sold when all units of the product are sold at the same price.