Small athletic shoe manufacturers such as Vans and New Balance have targeted niche markets and made shoes designed to satisfy needs of different customers.This strategy is an example of:

Question

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The strategy of targeting specific niche markets and designing shoes to satisfy their needs is an example of market segmentation. This involves dividing a larger market into smaller groups with similar needs or characteristics and then targeting them with tailored marketing efforts. Mass customization (A) involves creating personalized products for individual customers, while MSA and NAICS (B) are classification systems used to categorize businesses by industry. Synergy (D) involves the combination of two or more things to create a greater effect. None of these options accurately describe the strategy being used by Vans and New Balance.

Small Athletic Shoe Manufacturers Such as Vans and New Balance