A Small Business's Ability to Focus on Narrow Niches Can

question 87

Multiple Choice

A small business's ability to focus on narrow niches can help it develop

• A) a poor reputation.
• B) lower startup costs.
• C) higher costs.
• D) flexibility.
• E) an enviable reputation for quality and service.

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Definitions:

Generic Branding

A branding strategy that emphasizes the product category rather than a specific brand, often used for products perceived as commodities.

Reseller Licensing

Agreements that grant a business the right to buy products and sell them again, often under the brand name of the original manufacturer.

Mixed Branding

A marketing strategy where a company markets products under both its own brand and under the brand names of other companies.

Distinctive

A characteristic or feature that sets a person, object, or concept apart from others, making it easily recognizable or unique.