A strategy designed to avoid direct competition with larger businesses that are pursuing bigger segments is known as a:
A)niche-market strategy
B)vertical integration strategy
C)broader large-market strategy
D)growth-market strategy

Question

Quizplus · Accepted Answer

This strategy focuses on carving out a specialized segment of the market, rather than trying to compete directly with larger businesses that are pursuing bigger segments. By focusing on a small, specific target market, smaller businesses can differentiate themselves and create a competitive advantage. This can lead to greater customer loyalty and higher profit margins.

A Strategy Designed to Avoid Direct Competition with Larger Businesses