Discussion
Niche marketing refers to marketing of products and services to a ............. group of buyers.
Answer: B
Niche marketing targets a small group of buyers.
A niche is a narrowly defined group of customers, often a sub-segment of a larger segment, whose distinctive needs are not well served by mainstream products. A firm practising niche marketing specialises in serving this small group well, which lets it charge a premium and face few competitors, as makers of luxury watches or of specialised medical equipment do.
A large, substantial or diversified group is the target of mass or segment marketing, not niche marketing. The defining feature of a niche is that it is small and specialised.
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