A market coverage strategy where a company decides to target one market segment (niche) with a single marketing mix is called which of the following?
A)Focused marketing
B)Undifferentiated marketing
C)Differentiated marketing
D)Customized marketing

Question

Quizplus · Accepted Answer

Focused marketing, also known as niche marketing, involves focusing on a small, specific market segment with a unique marketing mix. This approach is generally used by smaller businesses that have limited resources and cannot cater to a broader market. By focusing on a particular segment, a company can offer a customized product or service that caters to that segment's specific needs and preferences. This approach is different from undifferentiated marketing (B), where a company does not differentiate between different market segments and offers the same product and marketing mix to everyone. Differentiated marketing (C) involves targeting multiple market segments with different marketing mixes, while customized marketing (D) involves tailoring a product or service to the specific needs of an individual customer.

A Market Coverage Strategy Where a Company Decides to Target