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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?

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Answer:

The answer is: The Museum Company uses a Focus Strategy

Explanation:

Michael Porter described three types of generic strategies:

  1. Cost leadership: no frills strategy, the company sells its product at the lowest possible cost.
  2. Differentiation: the company creates "unique" products and services that are appealing to the customers.
  3. Focus: the company offers a specialized service in a narrow (or niche) market

The Museum Company uses a Focus Strategy because it sells a very specialized service only found in other museums to affluent customers.

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