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:

Efficiency

A measure of how effectively resources are used to achieve a goal or perform a process, often with minimal waste or time.

Short-term Obligations

Financial commitments or debts that are due to be paid within one year.

Past Performance

A review of an entity's previous achievements and results, often used to predict future success or potential.

Fair Presentation

An accounting principle that ensures financial statements are accurate, complete, and in adherence with applicable standards, providing a true representation of an entity's financial performance and position.