A firm that is willing to maintain its market share and not rock the boat is known as a ________.
A) market challenger
B) market leader
C) market follower
D) market nicher
E) market entrant

Question

Quizplus · Accepted Answer

A market follower is a firm that is not interested in challenging the market leader but rather maintains its market share by imitating or modifying the leader's offerings. Market challenger (A) refers to a firm that aims to gain a larger market share by directly taking on the market leader. Market leader (B) is the top-ranked firm in the market with the largest market share. Market nicher (D) is a firm that caters to a small specialized segment of the market rather than targeting the broader market. Market entrant (E) refers to a new firm that enters the market.

A Firm That Is Willing to Maintain Its Market Share