Final answer:
A focused strategy becomes more attractive for a business when it allows the firm to leverage core competencies, innovate, and stand out either through low cost or differentiation in a competitive market.
Step-by-step explanation:
A focused strategy that secures a competitive edge through low cost or differentiation becomes more attractive in various situations. A business that concentrates on a limited range of products, demonstrating a core competency, tends to be more successful compared to those that spread their efforts across many products. This specialized approach allows firms to cultivate expertise, refine processes, and potentially reduce costs or create distinctive products that stand out in the market.
Moreover, market competition spurs innovation as companies strive to find new ways to produce more cost-effectively or create products that meet consumer desires. Companies like Samsung understand that innovation can provide a temporary advantage over competitors, allowing them to achieve above-normal profits. Staying ahead of the curve with technology and innovation is crucial in maintaining this competitive edge.