Instead of going for a small share of a large market, the firm pursues a large share of one or a few small markets. This marketing strategy is called:
A) Selective marketing
B) Elective marketing
C) Concentrated marketing
D) Concentric marketing

Question

Quizplus · Accepted Answer

Concentrated marketing, also known as niche marketing, involves selecting and focusing on one or a few small markets with specialized products or services. This strategy allows the firm to tailor their offerings to the specific needs and preferences of the target market, which can result in higher profits and customer loyalty. However, there is also a higher risk involved as the firm is heavily dependent on the success of the chosen market.

Instead of Going for a Small Share of a Large