BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Segment marketing
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Local marketing
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Niche marketing
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Individual marketing
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Detailed explanation-1: -Niche Marketing is the method of reaching out to customers who still need to be identified. The focus is on a small and specific part of the entire market using specialized strategies. Price range, type of product, and quality, all aim towards satisfying niche consumers.
Detailed explanation-2: -Niche marketing is a highly targeted form of advertisement. With niche marketing, businesses promote their products and services to a small, specific and well-defined audience. Many organizations adopt this strategy to support an underserved population and reap the rewards of brand loyalty.
Detailed explanation-3: -A niche market is a very specific segment of consumers who share characteristics and, because of those characteristics, are likely to buy a particular product or service. As a result, niche markets comprise small, highly specific groups within a broader target market you may be trying to reach.