Question

In porter's generic competitive strategies, which strategy combines a focus on a total market scope and a competitive cost advantage?

Answer 1

In porter's generic competitive strategies, focus strategy and overall cost leadership strategy combines a focus on a total market scope and a competitive cost advantage respectively.

What is focus strategy?

A focus strategy is a competitive tactic used to target marketing and sales at a certain market niche. Utilizing underserved or untapped markets is the goal of this technique.

While many rivals want to reach as many clients as possible with their sales, a focus approach chooses one or more certain categories. It gains an advantage by providing that sector with either high quality or low cost. These actions may improve client loyalty.

There are primarily two categories of focus strategies. One aspires to outperform the competition by cost leaders, while the other wants to succeed by differentiation itself.

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