Business Operations

The Focus Strategy: How to Select and Target the Right Market

Supercharge Growth by Focusing on the Niche

The Focus Strategy: How to Select and Target the Right Market
 

“One gets paid only for strengths; one does not get paid for weaknesses. The question, therefore, is first: What are our specific strengths? And then: Are they the right strengths?”

—Peter Drucker, Management Consultant and Author

Our clients tell us that investing in competitive strategy helps drive higher profits and strengthen their market position. At SunTrust, we understand this. Our own competitive strategy—differentiation—inspires us to do more for our clients by sharing our financial expertise with businesses of all sizes and at every stage. This guide is one step in our commitment to answer your questions, share ideas and deliver the collective resources of the entire bank to help your business thrive.

Although just 7 percent of midsize businesses say focus is their primary competitive strategy, honing in on and optimizing a target market can be a smart approach. In our section dedicated to the Focus strategy, learn the five questions business leaders should ask about their target market and read a case study about the effectiveness of this strategy in action.

You can also view the full report—including chapters dedicated to Quality, Cost Leadership and Innovation.

This content does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

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