It Is Most Accurate to Say That Successful Niche Marketing

question 42

Multiple Choice

It is most accurate to say that successful niche marketing relies on a firm's ________ and its ________.

• A)marketing strategy; services
• B)individual relationships with customers; positioning
• C)superior products; value network partners
• D)greater knowledge of customers' needs; special reputation
• E)competitive advantage in comparison to mass-market companies; affordable pricing

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Definitions:

Product Positioning

The process of marketing a product in a way that differentiates it from competitors in the minds of consumers.

Window Shoppers

Individuals who browse goods in stores without the intention of making a purchase.

Sensory Adaptation

Sensory adaptation is the process by which sensory receptors become less sensitive to constant stimuli over time.

Hedonistic Consumption

the practice of making purchases based on the desire for pleasure, enjoyment, or luxury rather than necessity.