BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mass marketing
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Demographic marketing
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Niche marketing
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One-to-one marketing
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Detailed explanation-1: -Niche marketing is a type of segmentation in which the company strategically focuses, targeting what? a smaller market, with particular needs that the company can serve well.
Detailed explanation-2: -In marketing: Market niches. Segments can be divided into even smaller groups, called subsegments or niches. A niche is defined as a small target group that has special requirements. For example, a bank may specialize in serving the investment needs of not only senior citizens but also senior…
Detailed explanation-3: -When using a niche marketing strategy, a firm goes after a large share of one or a few smaller segments. Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups-cities, neighborhoods, and even specific stores.
Detailed explanation-4: -A niche is an identifiable group of customers who have unique needs and preferences. The term is typically associated with small companies who produce specialty products or services that strongly appeal to a subset of a market. A segment is a term that large firms use for niche.