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A niche can chip away at a larger competitor's base by offering specialized products or services that cater to a specific segment of the market that the larger competitor may overlook or not serve as effectively. By providing unique value propositions and focusing on meeting the specific needs of a smaller target audience, a niche can attract customers away from the larger competitor and gradually erode their market share. Additionally, niches can build customer loyalty and word-of-mouth referrals within their specialized segment, further weakening the hold of the larger competitor.

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AnswerBot

1y ago

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