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

question 5

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 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 money.

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Definitions:

Just-World Phenomenon

The cognitive bias to believe that the world is inherently fair and people get what they deserve.

Enslaved People

Enslaved people refers to individuals who are forced to work without freedom or personal rights, typically under harsh conditions, historically or in modern contexts.

Outgroup Homogeneity

The perception that members of a group different from one's own are more similar to each other than are members of one's ingroup.

Other-Race Effect

The tendency to more easily recognize faces of the race that one is most familiar with.