Scenario 4-5
Jay and Carrie Garrett operate a small retail store in a college town that sells only house plants and accessories called The Plantatarium. Their initial feeling when they went into business was that virtually everyone was a potential customer for house plants. Subsequent market research conducted for them painted a different picture. This research identified three particularly strong market segments. The first was college students ages 18-24. The next segment was retired seniors ages 65-80. The third segment was professional offices for doctors, accountants, and lawyers. The college students liked houseplants because they dressed up their living spaces. The senior liked them because they became the focus of a hobby. The professionals did not buy them for any other reason than décor.
-(Scenario 4-5) A few customers told the owners of the Plantatarium that they would like to see them carry a few varieties of cactus. The Garretts decided to devote a small corner of their store exclusively to cacti. These customers constitute an example of a ____.

Question

Quizplus · Accepted Answer

The customers who requested the store to carry cactus represent a market niche, which is a specific, specialized group of customers with unique needs and preferences within a larger market segment.

Scenario 4-5 Jay and Carrie Garrett Operate a Small Retail Store in Store