Considering competitive positions, the company with the largest share in market in its industry is classified as?
Correct answer: C. market leader
- A. market challenger
- B. market follower
- C. market leader
- D. market niche
Explanation
The market leader is the firm with the largest market share in its industry and usually sets the competitive standard. A challenger tries to take share from that leader, while a follower avoids directly leading the market.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
The customer driven marketing strategy is another name of?
In an industry, the group of firm which follows the similar strategy is classified as?
According to competitive positions, the main focus of market leader strategy is to?
Market offering can be combination of?
According to competitive positions, the main focus of market follower strategy is to?
The concept through which the life is brought up in message of advertising strategy in memorable and distinctive way is classified as