Which of the following statements is true of a niche strategy?

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A niche strategy is a business approach that focuses on serving a particular segment of the market that may be underserved by larger companies. This means that companies that adopt a niche strategy typically have a smaller customer base but serve them very well. It is not true that only large companies can implement a niche strategy, or that adopting a niche strategy guarantees a price advantage over competitors. Furthermore, most companies that adopt a niche strategy usually have competitors, but differentiate themselves by focusing on a specific customer need or requirement.

Which of the Following Statements Is True of a Niche