A company is practicing ________ if it focuses on subbasements with distinctive traits that may seek a special combination of benefits ?
Correct answer: B. niche marketing
- A. micro marketing
- B. niche marketing
- C. mass marketing
- D. segment marketing
Explanation
Niche marketing targets a narrowly defined subsegment whose customers have distinctive needs and seek a particular combination of benefits. Mass marketing addresses the broad market, while segmentation is the broader process of dividing a market.
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About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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