Targeting Smaller but Profitable Market Segments and Designing or Finding

question 55

Short Answer

Targeting smaller but profitable market segments and designing or finding products and services for them is called __________ marketing.

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Definitions:

Dominant Firm

A company that has a major share of the market for a particular product or service, often able to influence market conditions.

Competitive Fringe

Small, less dominant firms in a market that compete at the periphery with the larger dominant firms, often by focusing on niche segments.

Price Leader

A company that has a dominant market share and can influence the pricing policies of competitors within the industry.

Dominant Firm Model

A market structure where one firm has a large market share and sets prices, while other smaller firms follow its pricing strategy.