What is the focus of an integrated strategy in business?

An integrated strategy in business primarily emphasizes value creation. This approach seeks to combine various elements of a company's operations—such as marketing, production, and customer service—to enhance the overall value provided to customers. By focusing on value creation, businesses aim to meet and exceed customer expectations, improve competitive advantage, and foster long-term relationships with their target market.

In an integrated strategy, companies harmonize their various functions to ensure that all aspects of the business contribute towards delivering greater value, whether that's through improved product quality, enhanced customer experience, or innovative services. This holistic approach supports the idea that all departments should work together towards a common goal of creating value, rather than operating in silos.

Price reduction, market diversification, and product standardization may be tactics or components utilized within a broader business strategy but do not encapsulate the essence of what an integrated strategy aims to achieve. While these might contribute to value creation in certain contexts, they do not inherently define the overall focus of an integrated strategy.