A runner- up firm that wants to hold its share in an industry without rocking the boat is a .
A)market nicher
B)market challenger
C)direct marketer
D)market leader
E)market follower

Question

Quizplus · Accepted Answer

A market follower is a company that tries to hold its share in an industry without disrupting the status quo. The company follows the market leader and tries to imitate its strategies. It usually avoids major investments in R&D or marketing and focuses on cost-cutting and process improvement. A market challenger tries to grab market share from the market leader, a market nicher focuses on a narrow market segment, a direct marketer sells products directly to customers without intermediaries, and a market leader has the largest market share and sets the industry standards.

A Runner- Up Firm That Wants to Hold Its Share