________ are those runner-up firms that are working to increase their market share in an industry.
A) Market leaders
B) Market challengers
C) Market followers
D) Market analyzers
E) Market nichers

Question

Quizplus · Accepted Answer

Market challengers are runner-up firms that are working to increase their market share in an industry. They typically take aggressive actions such as launching competitive advertising campaigns, introducing new product features, or lowering prices to challenge the market leader. Market followers (C) are firms that are not interested in challenging the market leader and prefer to focus on maintaining their market share. Market leaders (A) are the firms that have the largest market share in the industry. Market analyzers (D) are firms that carefully monitor both the market leader and its challengers to identify opportunities to innovate and differentiate their products. Market nichers (E) are firms that specialize in serving a small segment of the market with unique products or services.

________ Are Those Runner-Up Firms That Are Working to Increase