Keepsake Collectibles Focuses Its Marketing Efforts on High-Income Buyers of Unique

question 56

Multiple Choice

Keepsake Collectibles focuses its marketing efforts on high-income buyers of unique collectible items. The firm realizes that the number of buyers in this segment of the collectible market is small. However, they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service. Keepsake's approach is an example of:

• A) competitive benchmarking.
• B) niche marketing.
• C) relationship targeting.
• D) target positioning.

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Definitions:

Communication

The process of exchanging information, ideas, feelings, or instructions between individuals or groups, often involving a shared understanding.

Empathize

The ability to understand and share the feelings of another, putting oneself in their shoes.

Relationships

Connections or associations between people, based on feelings, interactions, and personal ties.

Stress Management

Techniques and strategies used to control an individual's level of stress, aiming to improve everyday functioning and well-being.