BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consumers have unique needs and desires. Economists call this
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inperfect competence
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imperfect competition
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diverse demand
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diverse marketing
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Explanation:
Detailed explanation-1: -Economists note that imperfect competition occurs because consumers have unique needs and desires.
Detailed explanation-2: -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-3: -The goal of homogeneity in customers’ likes or dislikes is more achievable as the segment size gets smaller, but if the segment is too small, it might not be profitable to serve. On a continuum from mass marketing to one-to-one marketing, market segmentation is in the middle.
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