Small athletic shoe manufacturers such as Vans target niche markets like street culture or action sports enthusiasts, making shoes designed to satisfy the needs of these different specific groups of customers. This strategy is an example of
A) market segmentation.
B) mass customization.
C) customized manufacturing.
D) single chain marketing.
E) market specific selection.

Question

Quizplus · Accepted Answer

Market segmentation involves dividing a broad target market into subsets of consumers who have common needs and priorities, and then designing and implementing strategies to target them. Vans targets niche markets by focusing on specific groups like street culture or action sports enthusiasts.

Small Athletic Shoe Manufacturers Such as Vans Target Niche Markets