A firm that serves small market segments that are not being served by bigger firms is known as a market ________.
A) challenger
B) leader
C) follower
D) nicher
E) entrant

Question

Quizplus · Accepted Answer

A firm that serves small market segments that are not being served by bigger firms is known as a market nicher. The other options do not match the definition given. A market challenger is a company that tries to compete with the market leader by offering similar products or services. A market leader is a company that has the largest market share. A market follower is a company that tends to imitate the actions of the market leader. A market entrant is a company that enters a market with a new product or service.

A Firm That Serves Small Market Segments That Are Not