Final answer:
A pharmaceutical firm targeting a flu vaccine for senior citizens over 90 years old is employing a niche market strategy, focusing on a specific group to gain competitive advantage and potentially command premium pricing.
Step-by-step explanation:
A pharmaceutical firm working on a new flu vaccine targeting senior citizens over 90 years old is likely pursuing a niche market strategy. This strategy involves concentrating on a narrow customer segment to achieve competitive advantage. By focusing on the specific health needs and immune profiles of senior citizens, particularly those over 90, the firm can develop a vaccine that is specially formulated for this age group, reflecting a deep specialization in the product line.
This approach is distinct from broader competitive strategies that might aim at mass markets or involve cost leadership. Instead, a niche strategy can provide significant benefits to companies including reduced competition, customer loyalty, and the potential for premium pricing due to the specialized nature of the product.