Explain the Differences Among the Following Customer Segment Types: Niche

question 86

Essay

Explain the differences among the following customer segment types: niche market,segmented market,diversified market,and multisided market.

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Definitions:

Situation Analysis

The assessment of internal and external factors influencing a company's performance and strategy planning.

Diversification

A risk management strategy that involves adding variety to a product portfolio or investments to spread out potential risk.

Positioning

The strategy of defining a brand or product's unique value in the market and in the minds of consumers.

Franchising

A business model wherein a business owner (franchisor) grants to an individual or entity (franchisee) the rights to operate a business under the franchisor's brand and system in exchange for a franchise fee and ongoing royalties.