GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Economists note that imperfect competition occurs because consumers have unique needs and desires.
Detailed explanation-2: -Imperfect competition occurs when: consumers have unique needs and desires.
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.
Detailed explanation-4: -Niche marketing is a type of segmentation in which the company strategically focuses on a smaller market. The goal of heterogeneity in customers’ likes or dislikes is more likely to be achieved as the segment size gets smaller.