A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a market ________.
A) challenger
B) leader
C) follower
D) nicher
E) entrant

Question

Quizplus · Accepted Answer

A market follower is a firm that is content with maintaining its market share and does not aggressively seek to gain a larger market share by attacking the market leader or other competitors. Market challengers, on the other hand, actively seek to gain a larger market share by attacking the market leader or other competitors. A market leader is the dominant player in a market, while a nicher focuses on serving a specific, narrow market segment. An entrant is a new company entering a market.

A Firm That Is Willing to Maintain Its Market Share