Concentration Strategy

Definition: a Concentration Strategy is a business approach where a firm directs all or most of its resources and efforts to a single industry, product market, or customer segment rather than Diversification. In this strategy, a company aims to achieve deep expertise, innovation, and efficiencies by directing all attention and capabilities to one area, pursuing a large share of one market or niche or a few submarkets.
Key methods for implementing this strategy include market penetration, market development, and product development.
See also Concentrated Marketing.

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