Almost every industry includes firms that specialize in serving target subsegments called .
A)market niches
B)benchmarkers
C)hotbox markets
D)customer databases
E)local markets

Question

Quizplus · Accepted Answer

The concept of market niches refers to firms that specialize in serving specific target subsegments within an industry. These subsegments can be based on a variety of factors including demographics, psychographics, geography, behavior, and more. Firms that focus on serving these specific niches often have a competitive advantage over more generalized firms because they can offer tailored products or services that better meet the unique needs of their customers.

Almost Every Industry Includes Firms That Specialize in Serving Target