When Analysing Porter's Three Generic Strategies for Entering a Market,if

question 26

Multiple Choice

When analysing 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 nor broad markets.
• D)Both niche and broad markets.

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Definitions:

Bureaucracy

An organizational style characterized by formalized rules and regulation, specialized routine tasks, division of labor, and centralized authority.

Specialization

The process of focusing on a narrow area of expertise to become more efficient and productive in that area.

Bored Employees

Refers to workers who experience a lack of interest, enthusiasm, or engagement in their job tasks.

Negotiation

The process of reaching an agreement that both parties find acceptable.