Small Athletic Shoe Manufacturers Such as Vans Target Niche Markets

question 89

Multiple Choice

Small athletic shoe manufacturers such as Vans target niche markets like street culture or action sports enthusiasts, making shoes designed to satisfy the needs of these different specific groups of customers. This strategy is an example of

• A) market segmentation.
• B) mass customization.
• C) customized manufacturing.
• D) single chain marketing.
• E) market specific selection.

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Definitions:

Marginal Utility

The extra pleasure or benefit a consumer gets from consuming an additional unit of a product or service.

Oysters

Marine mollusks that are enclosed in a hinged shell, often cultivated or harvested for food.

Beers

Alcoholic beverages made from fermenting cereals, primarily barley, and flavored with hops.

Maximizing Utility

The economic principle wherein individuals or firms seek to get the greatest satisfaction or return from their resources and choices, under the constraints they face.