Loren LLC is a small bicycle store that competes effectively with much larger companies since it focuses exclusively on selling bicycles for senior citizens and orthopedic patients. The company has been successful since it has:

Question

Loren LLC is a small bicycle store that competes effectively with much larger companies since it focuses exclusively on selling bicycles for senior citizens and orthopedic patients. The company has been successful since it has:​

Quizplus · Accepted Answer

Loren LLC has been successful because it has identified and focused on a small but profitable market niche of senior citizens and orthopedic patients. By providing specialized bicycles to this market, they have effectively differentiated themselves from larger competitors and met the unique needs of their target customers. Working to undercut larger competitors, attracting the best talent in the bicycle market, and acquiring a patent for these bicycles may also be beneficial strategies, but they are not mentioned in the given scenario as reasons for Loren LLC's success.

Loren LLC Is a Small Bicycle Store That Competes Effectively