Question

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

Answer 1

Answer:

A. market segmentation

Explanation:

Market segmentation may be seen as a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action. Market segmentation enables companies to focus on different categories of consumers who perceive the complete value of certain products and services differently from each other .

Answer 2

Answer:

A. market segmentation

Explanation:

Market segmentation is a strategy in marketing which involves the division of a company’s market target into different subgroups, each consisting of potential customers that share similar characteristics and traits based on demographics, behavioral, geographic, or psychographic characteristics. This ensures a better understanding of the target market in order for efficient marketing to take place.