A firm that serves small market segments not being served by bigger firms is known as a ________.
A) market challenger
B) market leader
C) market follower
D) market nicher
E) market entrant

Question

Quizplus · Accepted Answer

A firm that serves small market segments not being served by bigger firms is known as a market nicher. They specialize in serving a particular customer segment and offer unique products or services to cater to the specific needs of that segment. Market nichers often have a competitive advantage because they have a better understanding of their niche and can more effectively fulfill their needs compared to larger firms that cater to a broader market.

A Firm That Serves Small Market Segments Not Being Served