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focus

  1. a term used to describe a firm's concentration on a single or limited range of business activities. By focusing on a ‘core activity’ the firm is better able to reap the benefits of SPECIALIZATION and access ECONOMIES OF SCALE, increase its MARKET SHARE and concentrate management's attention and capabilities on ‘what they know best’. On the debit side, however, over-specialization may make the firm vulnerable to cyclical and secular downturns in demand while limiting opportunities for achieving long-run growth. See HORIZONTAL INTEGRATION, COMPETITIVE STRATEGY. Contrast DIVERSIFICATION.
  2. a means of organizing production. See PRODUCT-FOCUSED LAYOUT.
  3. a means of conducting market research by the use of ‘focus groups’. See MARKETING INTELLIGENCE.
  4. competing in (‘targeting’) one MARKET SEGMENT only (also known as niche targeting or marketing.) See CONCENTRATED MARKETING or TARGETING STRATEGY, DIFFERENTIATED MARKETING or TARGETING STRATEGY.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

focus

a term used to describe a firm's concentration on a single or limited range of business activities. By focusing on a ‘core activity’, the firm is better able to reap the benefits of SPECIALIZATION and access ECONOMIES OF SCALE, increase its MARKET SHARE and concentrate management's attention and capabilities on ‘what they know best’. On the debit side, however, over-specialization may make the firm vulnerable to cyclical and secular downturns in demand while limiting opportunities for achieving long-run growth. See HORIZONTAL INTEGRATION, DIVERSIFICATION.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The materials used in this study included a survey which was designed based on outcomes from survey materials used in two previous studies involving implementation of the edTPA (Authors, 2013; Authors, 2015) and virtual focus group protocols.
The "Virtual Focus Group": Using the Internet to reach pregnant women on home bed rest.
Data mining, Mosley said, is a "virtual focus group." A company can put an ad online, for example, then see how consumers like it.
This edition includes new areas of research and methodology in an international context; examples of research with global populations; virtual focus groups and their challenges and advantages; expanded information on procedural details like the role of Institutional Review Board approvals, the identification of research sites, recruiting participants, the development of the interview guide, and the role of the moderator; and updated discussion of the use of software tools.