Question

When analyzing 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.

Answer 1

Porter's three generic strategies suggest that a focused strategy targets a niche market, aiming to meet unique needs within a specific customer segment. The correct option is A.

Step-by-step explanation:

When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy, the market you should target is A. A niche market.

A focused strategy is one where the company targets a specific segment or group within the broader market with tailored products or services that meet the unique needs of the customers within that segment.

By focusing on a niche market, companies can cater to specific preferences, which may be overlooked by competitors aiming for a broader audience. The correct option is A.