Profitability increases as a business gains share relative to competitors in its ________.
A) higher market
B) direct market
C) communication market
D) served market
E) valued market

Question

Quizplus · Accepted Answer

The served market refers to the specific target market segment or geographic area that a business is currently serving or plans to serve. As a business gains share within its served market, it can achieve economies of scale and scope, increase bargaining power with suppliers, and benefit from greater brand recognition and customer loyalty. This can result in increased profitability through higher sales volumes and lower costs.

Profitability Increases as a Business Gains Share Relative to Competitors