A successful niche marketing strategy relies on a firm's ________.
A) availability of services
B) product positioning
C) superior products
D) knowledge of customer needs
E) affordable pricing

Question

Quizplus · Accepted Answer

In order to successfully target a niche market, a firm must have a deep understanding of the needs and preferences of that particular group of customers. This knowledge will allow the firm to tailor its products and marketing messages to better resonate with the niche audience. Availability of services, product positioning, superior products, and affordable pricing are also important, but without a thorough understanding of customer needs, a niche marketing strategy is unlikely to be effective.

A Successful Niche Marketing Strategy Relies on a Firm's ________