Bob and Phyllis Cords Own Two Retail Stores, One in Nanaimo

question 165

Short Answer

Bob and Phyllis Cords own two retail stores, one in Nanaimo and one in Victoria.Though the cities are only 60 kilometers apart, the consumers at both stores are very different demographically.Bob and Phyllis alter the product offerings between both locations in an effort to cater to both demographic groups.This is an example of ________.
local marketing
psychographic segmentation
micromarketing
demographic segmentation
both A and C

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Definitions:

Marketing

The collection of activities, organizations, and processes involved in producing, distributing, and promoting goods that provide value to consumers, business partners, and the wider community.

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.