Asked by Dameion Goodwin on Jun 11, 2024
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Niche marketing occurs when the marketing mix is adjusted to treat individual persons as separate target markets.
Niche Marketing
A targeted marketing strategy focusing on a specific segment of the market, tailor-made to satisfy the unique needs and preferences of that segment.
Marketing Mix
A set of controllable marketing variables comprising product, price, place, and promotion that a firm uses to pursue its marketing objectives in the target market.
- Grasp the significance of niche marketing and its contrast with mass marketing.
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Learning Objectives
- Grasp the significance of niche marketing and its contrast with mass marketing.
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