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.

Understand the concept of multisided markets and their dynamics.

Identify the factors contributing to financial viability in business models.

Recognize the significance of infrastructure in delivering customer value.

Acknowledge the importance of focusing on customers' needs and jobs in creating successful CVPs.

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Definitions:

Undue Influence

The situation in which one person has taken advantage of his or her dominant position in a relationship to persuade the other person unduly to the extent that the dominant person’s persuasive efforts have interfered with the other person’s ability to make his or her own decision.

Fraudulent Misrepresentation

An intentional false statement of a material fact made by one party to induce another party to enter into a contract.

Duress

Any unlawful act or threat exercised on a person whereby the person is forced to enter into an agreement or to perform some other act against his or her will.

Negligent Misrepresentation

A false statement made carelessly that is relied upon by others, leading to their financial loss.