Companies in this position take care to try and keep it and are always aware that others want to gain the position. Market segmentation - the way in which the market is divided into segments, each of which reflects different customer preferences. Product design and marketing strategies can then be directed at the characteristics of the particular segment. Mission Statement - a formal statement that focuses on the major objectives, values a company holds and is aiming for. Niche market - are normally small segments of a market.
Suppliers are likely to face less competition when they initially enter such a market.
Over trading - this occurs when the business expands without having access to sufficient funds to pay its bills. Predatory pricing - centres on the setting of prices at a level below long rum average cost. This is done deliberately to drive out weaker opponents. In the long run this may reduce competition, so allowing the originator of the policy to re-visit their pricing policy. They may be in a position to raise prices without losing market share.