Red Carpet Inc. is a small apparel store started by an aspiring designer. The store needs to compete against larger, well-established multinational brands. Which of the following strategies will most help Red Carpet Inc. avoid competition from larger firms?
- Red Carpet Inc. should have multiple levels of management like the larger firms.
- Red Carpet Inc. should target large market segments that the competitors serve.
- Red Carpet Inc. should expand the scale of production to enjoy greater economies of scale.
- Red Carpet Inc. should start to work with customers only when the products are ready for sale.
- Red Carpet Inc. should focus on and target small market niches or product needs.