According to Michael Porter, a firm practicing a niche strategy:

a. Has relative market share and emphasizes efficient-scale facilities.
b. Dominates a particular target market although its overall market share may be low.
c. Chooses high-growth markets while holding onto substantial mature markets.
d. Attempts to pioneer in product/market development.
e. Insulates itself from competitive rivalry by creating brand loyalty and the resulting lower sensitivity to price.

b. Dominates a particular target market although its overall market share may be low.

Explanation:

answer; i believe the correct answer is (sales promotion;

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it