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1) A network of doorways...mostly generic domains that pertain to a subsegment ("bluewidgets.com"). These pages pretend to be separate sites, but all navigation leads back to a central site ("widgets.com").
2) A network of fully functional subsegment sites ("bluewidgets.com","purplewidgets.com", etc.). I have seen competitors with multiple sites in the top 10 search results for very competitive terms, despite duplicate content.
3) Focusing exclusively on one site for the segment.
Which strategy do you employ and why?