Question

Which of the following actions is associated with a niche strategy? Group of answer choices A. Manufacturing products in bulk and targeting average customers B. Selling products without extra frills or options C. Choosing a target market that is not crucial to the success of major competitors D. Creating cross-departmental teams across all the strategic business units

Answer 1

Answer:

The action that is associated with a niche strategy choosing a target market that is not crucial to the success of major competitors.

Option: (C)

Explanation:

• The major reason an organization chooses to adopt a niche strategy is to avoid the dominance of a particular competitor in the present targeted market that both the organizations are functioning in.
• A niche strategy helps the organizations to experiment with the market and see if the output they get is acceptable or not.