One of Porter's Generic Business Strategies That Require a Product

question 141

Multiple Choice

One of Porter's generic business strategies that require a product to have significant points of difference to charge a higher price while targeting a broad array of market segments is referred to as a __________.

• A)differentiation focus strategy
• B)cost focus strategy
• C)cost leadership strategy
• D)differentiation strategy
• E)supply focus strategy

---

Definitions:

Income Inequality

The uneven distribution of income among individuals in an economy, reflecting varying levels of wealth, wage, and earning disparities.

United States

A country in North America consisting of 50 states and a federal district, known for its economic and military power.

Temporary Assistance

Short-term financial or material support provided to individuals or families in need, often by the government or charitable organizations.

Needy Families

Refers to households lacking sufficient income or resources to meet basic living expenses, such as food, clothing, and shelter.