The firm who is a runner- up in an industry but that wants to hold its market share without rocking the boat is known as the market:
A) challenger.
B) follower.
C) leader.
D) nicher.
E) structure.

Question

Quizplus · Accepted Answer

A follower is a firm that is not the market leader but wants to maintain its market share without disrupting the industry. A challenger would actively seek to take market share from the leader, a leader is the dominant firm in the industry, a nicher specializes in a specific market segment, and structure is not a relevant term in this context.

The Firm Who Is a Runner- Up in an Industry