Small athletic shoe manufacturers such as Vans target niche markets and make shoes designed to satisfy the needs of 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

This strategy of targeting specific groups of customers is known as market segmentation, which involves dividing a larger market into smaller groups of customers with similar needs or characteristics. Small athletic shoe manufacturers like Vans are known for their ability to successfully target niches and create products that meet the specific needs and preferences of these groups, such as skateboarders or surfers.

Small Athletic Shoe Manufacturers Such as Vans Target Niche Markets