What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is?
Answers
Apart from low-cost leadership and broad differentiation strategies niche strategy sets their concentrated attention on attending to the needs of the buyers in a narrow piece of the overall market
Niche strategy is a unique market approach for a good or service with features that appeal to a particular subgroup market. The product marketed through this strategy will be easily identified from the other products and is always produced and sold to specialized users of that market.
Normally, the focused strategy will be based on the low cost aims at the securing as well as competitive advantage with serving buyers in the target market niche at a lower cost along with the lower price than rival competitors.
Having the strategy will give you the best unique market approach for good or service with features that appeal to a particular subgroup market.