The
answer to the missing word on the statement above is market focus. When a firm
competes in a geographically defined specific are, it is using a market focus. For
a business to be market-focused, you have to look outside the company for
input and data essential to create strategic and tactical judgements. Market
focus means you
have to have a great deal of understanding your customers. It also means you
have to know your competitors very well, and anticipate their next moves.
