What is niche marketing?
A) A relatively small group of consumers within a segment that has a distinctive set of needs or seeks very specific benefits.
B) A large group of heavy users who are loyal to a brand because it provides value at a relatively low price
C) A market segment that is served by many firms and is characterized by high levels of competition
D) A market segment that is characterized by high sales volumes and low prices

Question

What is niche marketing? 
A) A relatively small group of consumers within a segment that has a distinctive set of needs or seeks very specific benefits. 
B) A large group of heavy users who are loyal to a brand because it provides value at a relatively low price 
C) A market segment that is served by many firms and is characterized by high levels of competition 
D) A market segment that is characterized by high sales volumes and low prices

Quizplus · Accepted Answer

Niche marketing refers to targeting a specific segment of consumers who have unique needs or seek very specific benefits. This approach allows businesses to differentiate themselves from competitors and cater to the specific needs of the target market. This can often lead to higher customer loyalty and profitability.

What Is Niche Marketing