Which of the following actions is closely associated with the niche strategy?
a. Choosing a target market that is not crucial for the success of major competitors
b. Manufacturing products in bulk and targeting the average customer
c. Selling products that do not have extra frills
d. Creating cross-departmental teams across all the strategic business units
ANSWER: a
For small companies with limited resources that potentially face giant competitors, niche targeting may be the only viable option. A market segment that has good growth potential, but is not crucial to the success of major competitors is a good candidate for developing a niche strategy.
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