Favorite Memories Is a Small Company That Specializes in Serving

question 57

Multiple Choice

Favorite Memories is a small company that specializes in serving women over the age of 50 who are special occasion gift shoppers overlooked by major competitors. Which of the following best describes Favorite Memories' market coverage strategy?

• A) undifferentiated marketing
• B) mass marketing
• C) differentiated marketing
• D) niche marketing
• E) multisegment marketing

---

Definitions:

Anticipating Customer

Anticipating customer needs involves understanding and predicting the future needs and preferences of customers to tailor products, services, and experiences that meet those needs before they have been explicitly expressed.

Quality Control

The process of ensuring that products and services meet certain standards of quality to satisfy customer expectations.

Samsung Note 7

A model of smartphone manufactured by Samsung that was recalled and discontinued due to safety concerns related to its battery overheating and causing fires.

CSR Activities

Corporate Social Responsibility activities are actions taken by businesses to contribute positively to society, beyond their direct business interests.