Which Strategy Allows a Small Company to Maximize the Advantages

question 57

Multiple Choice

Which strategy allows a small company to maximize the advantages of its smallness and to compete effectively even in industries dominated by giants?

• A)Grand market strategy
• B)Mass strategy
• C)Niche strategy
• D)None of the above

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Definitions:

Legal Detriment

A loss or disadvantage that occurs as a result of a contract or agreement, serving as consideration for a promise in contract law.

Firm Offer

In contract law, a proposal made by a seller to supply goods or services at a fixed price, which cannot be withdrawn for a certain period.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.

Bargained-For Exchange

An exchange of promises or performance by parties to a contract that provides the consideration necessary to make the contract legally enforceable.