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English definition of “market challenger”

market challenger

noun [C]
 
 
COMMERCE
the company or product that is second in market share (= the number of customers or sales a company has compared with others of the same type) in a particular market: With around 10% to 15% market share, the company is a market challenger. →  Compare market follower , market leader , market nicher
(Definition of market challenger from the Cambridge Business English Dictionary © Cambridge University Press)
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