After Years of Using a Mass Marketing Strategy, Digital Print

question 222

Multiple Choice

After years of using a mass marketing strategy, Digital Print Shops has responded to new competition from national chain stores by focusing on small market segments that have been ignored by their larger competitors. Digital believes that by offering these market segments personalized customer services it can attract a loyal group of customers willing to pay premium prices. Digital's strategy to improve profits is known as:

• A) environmental scanning.
• B) niche marketing.
• C) micro-marketing.
• D) respondent change.

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Definitions:

Marketing Research Concepts

Key principles and methodologies employed to gather, analyze, and interpret data relevant to marketing decision-making.

Conducting Marketing Research

The process of gathering, analyzing, and interpreting information about a market, about a product or service to be offered for sale in that market.

Challenges

Difficulties or obstacles that need to be overcome in order to achieve a goal or complete a task.

Big Data

A term that describes both the growth in information that inundates businesses each day and the complex tools used to analyze the data and derive meaningful insights.