the strategy of a market leader, which identifies little competition, will be different from that of a small firm trying to establish a small market share. The former may try to dominate the whole market, whereas the latter may attack the leader or find a small underserviced segment, called a -------------, and make that market its own.
A) niche market
B) mass market
C) Competitive advantage
D) mass media

Question

Quizplus · Accepted Answer

A niche market refers to a small, underserviced segment of a larger market where a company can focus its efforts to meet the specific needs or preferences of a targeted group. This strategy is often used by smaller firms trying to establish a market presence without directly competing with larger market leaders.

The Strategy of a Market Leader, Which Identifies Little Competition