Small athletic shoe manufacturers such as Vans have targeted niche markets and made shoes designed to satisfy the needs of 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.

Question

Quizplus · Accepted Answer

This strategy of targeting specific groups of customers is known as market segmentation, which involves dividing the market into smaller groups with similar needs and wants. Small athletic shoe manufacturers such as Vans have been able to successfully target niche markets by designing shoes that meet the specific needs of customers in those segments.

Small Athletic Shoe Manufacturers Such as Vans Have Targeted Niche