Asked by Mckenna Grimm on Jul 07, 2024
Verified
A focused strategy is designed to help an organization target a specific niche in its industry.
Focused Strategy
A business approach that targets a specific market niche or audience with tailored products or services.
Specific Niche
A distinct segment of the market tailored to meet the unique needs or preferences of a targeted group.
- Grasp the concepts and applications of strategic management approaches, including focused, differentiation, and low-cost strategies.
Verified Answer
SI
Shoubii I NarmadaJul 13, 2024
Final Answer :
True
Explanation :
A focused strategy involves targeting a specific niche in an industry, making it true that this type of strategy is designed to help an organization focus on a specific segment of the market.
Learning Objectives
- Grasp the concepts and applications of strategic management approaches, including focused, differentiation, and low-cost strategies.
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