The CEO of the Wholesome Food retail grocery chain, which specializes in organic and natural produce and meat, has stated, "The

Question

3 years ago

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The CEO of the Wholesome Food retail grocery chain, which specializes in organic and natural produce and meat, has stated, "The

key to success is to find your niche and focus on it, regardless of what anyone else does." The CEO
believes he has placed his firm in a slow-cycle industry where concerns about protecting unique competencies dominate concerns about market share.

Business

1 answer:

givi [52] · Answer 1 · 2022-01-15T00:31:34+03:00

Answer:

TRUE

Explanation:

The CEO 's belief that he has placed his firm in a slow-cycle industry where concerns about protecting unique competencies dominate concerns about market share, is true

Basically, the CEO operates in a niche market as is reported in the scenario

Niche marketing refers to competing within a narrowly defined market segment with a specialized offering.

Most small businesses are generally not niche marketers; they simply have a very small share of a large segment whereas niche marketers have a large market share in a small/tight segment.

Having therefore established his Niche business in a small segment where he has a large market share (otherwise it would not be a niche business), the concerns will be about protecting unique competencies rather than market share