Asked by Vaden Mangler on Jul 20, 2024
Verified
Consumers of _________ marketing products typically have very specialized needs and will pay higher prices to meet those needs.
Niche Marketing
A targeted marketing strategy focusing on a specific portion of the market with unique preferences or requirements.
Specialized Needs
Particular requirements or conditions necessary for specific populations, activities, or processes, usually requiring customized solutions.
Higher Prices
Charging more for goods or services than the average market rate, often associated with premium quality or brand reputation.
- Understand niche marketing and its appeal to consumers with specialized needs.
Verified Answer
Learning Objectives
- Understand niche marketing and its appeal to consumers with specialized needs.
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