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A niche competitive advantage means that a company does what?
ASells to every segment of a very large market at once
BProduces at a lower cost than any rival in the industry
CTargets and effectively serves a single market segment
DHolds a patent that keeps all rivals out of the market
Answer & Solution
Correct answer: C. Targets and effectively serves a single market segment
1. A niche competitive advantage rests on serving one segment rather than many.
2. The company targets and effectively serves that single segment of the market.
3. Serving every segment at once is the opposite of a niche approach.
4. Low cost and patent protection describe other kinds of advantage.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.2 Creating a Marketing Strategy_
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