All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.
A) single-segment concentration
B) selective specialization
C) product specialization
D) market specialization
E) full market coverage

Question

Quizplus · Accepted Answer

Single-segment concentration, also known as niche marketing, involves focusing all marketing efforts on a specific and well-defined market segment. This approach allows a company to develop a strong knowledge of the segment's needs, establish a strong market presence, and achieve operating economies through specializing in production, distribution, and promotion. The other options involve either targeting multiple segments or broad markets, which can lead to a dilution of marketing efforts and a weaker understanding of the target market's needs.

All of the Following Are Benefits of Following the ________