Niche-Segment Strategies Differ from Mass-Market Strategy in That Niche-Market Strategies

question 50

Multiple Choice

Niche-segment strategies differ from mass-market strategy in that niche-market strategies ________.

• A)address one set of core customer needs of a large market segment
• B)have no segment focus
• C)are used when demographics are not distinctive
• D)are used when the company markets to a closely related attractive segment first
• E)involve highly refined marketing effort directed at an overlooked,small group of customers

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Definitions:

Synergy

Describes a situation where the combined effect of a group is greater than the sum of individual efforts.

Complementary Skills

Skills that different individuals bring to a team or partnership that, when combined, enhance the group's overall ability to achieve its objectives.

Common Purpose

A shared goal or mission that unites members of a group, organization, or community, encouraging collaboration and collective action.

Teams That Run Things

Groups of individuals who are responsible for managing operations and making decisions within an organization.