Targeting smaller but profitable market segments and designing or finding products and services for them is called niche marketing.

Question

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Niche marketing focuses on serving specific and often smaller market segments that have unique needs and preferences rather than trying to appeal to a larger, more general audience. This approach can be effective in reaching customers who are often overlooked by broader marketing campaigns and can lead to more loyal customers and higher profits.

Targeting Smaller but Profitable Market Segments and Designing or Finding