Question

Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented. Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers. What would Jennifer determine The Museum Company is using as its generic strategy?

Answer 1

Answer:

Focus Strategy (Differentiation) also known as Narrow Market, High Cost

Explanation:

According to my research on Porter's three generic strategies, I can say that based on the information provided within the question Jennifer can assume that the Museum Company is using a Focus Strategy (Differentiation). This can be said because the company offers High Cost (Unique Products) in a narrow market (affluent customers around the world). Therefore if you follow Porter's Chart this is considered a Focus Strategy (Differentiation).

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