Small businesses and entrepreneurial ventures can compete successfully in narrow market niches by developing a low-cost, differentiation, or integrated competitive advantage.

Question

Quizplus · Accepted Answer

Small businesses and entrepreneurial ventures can indeed compete successfully in narrow market niches by developing a low-cost, differentiation, or integrated competitive advantage. By focusing on a specific market segment and offering a unique product or service, they can stand out and attract customers even in markets dominated by larger players.

Small Businesses and Entrepreneurial Ventures Can Compete Successfully in Narrow