Targeting smaller but profitable market segments and designing or finding products and services for them is called:
A) Market segmentation
B) Niche marketing
C) Relationship marketing
D) Marketing management

Question

Quizplus · Accepted Answer

Niche marketing involves targeting specific, smaller market segments that have unique needs or characteristics, and designing or finding products and services to meet those needs. This approach allows businesses to differentiate themselves from competitors and focus on a more profitable market. Market segmentation is a broader concept that involves dividing a larger market into smaller groups based on various criteria. Relationship marketing focuses on building long-term relationships with customers, while marketing management is the process of planning, implementing, and controlling marketing activities.

Targeting Smaller but Profitable Market Segments and Designing or Finding