A company using a ______ strategy seeks to be the first to move into a market segment to meet an unfulfilled customer need.

Question

Quizplus · Accepted Answer

A company using a market niche strategy is focused on finding and targeting a specific, underserved market segment to meet their needs. The company aims to be the first mover in this market segment by offering products or services that uniquely address the needs of that segment. Both low-price provider and differentiation strategies focus on competing within an existing market, rather than carving out a new market segment.

A Company Using a ______ Strategy Seeks to Be the First