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Ksivusya [100]
2 years ago
7

After years of using a mass marketing strategy, Precision Print Shop has responded to new competition from larger companies by f

ocusing on small market segments that have been ignored by these competitors. Precision believes that by offering these market segments personalized customer service it can attract a loyal group of customers willing to pay premium prices. What is Precision's strategy known as:______.
a. environmental scanning.
b. niche marketing.
c. micro-marketing.
d. respondent change.
Business
2 answers:
gladu [14]2 years ago
7 0

Answer:

b. niche marketing.  

Explanation:

Niche marketing is the subset or segment of the total market on which a specific product is focused.

The market niche defines the product features aimed at satisfying specific market needs which are <u>the needs of the market segment on which the product is focused,</u> as well as the price range, production quality and the demographics that it is intended to target. <u>Niche market segments are usually a small market segment.</u>

In the scenario it is stated that ''Precision Print Shop has responded to new competition from larger companies <u>by focusing on small market segments'', </u>implying that Precision Print Shop is now practicing niche marketing.

dedylja [7]2 years ago
3 0

Answer:

b. niche marketing

Explanation:

Niche marketing is the type of marketing that involves promoting and selling a product and service to a particular section within a large market. Niche marketing focuses on specific market targets that will benefit from a particular product or service and not the entire market. This type of marketing strategy is highly cost effective.

Niche marketing helps a business to build their brand, it also helps a business to penetrate a particular section of the market and meet customers needs and desire.

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Kraft has adapted its popular Oreo cookie to the unique tastes of consumers all around the world, whether it's mango-and-orange
zvonat [6]

Answer:

Product adaptation

Explanation:

Product adaptation is when an existing product is changed or modified to suit customers need in a foreign market . The aim is to satisfy customers want all around the world where the products are exported to.

There are various reasons why products may be adapted, one of which is changing the taste of a product to meet the desire of customers who are based in other countries or around the world. It may also involve either changing the brand, colour etc, just to meet customers demand all around the world.

Other reason why a product may be adapted is to comply with local laws where the products are exported to.

7 0
2 years ago
What is the difference between earned income, passive income, and investment income?
Rudiy27

Explanation:

Earned income consists of income you earn while you are working a full-time job or running a business.

Passive income is income earned from rents, royalties, and stakes in limited partnerships.

Portfolio income is income from dividends, interest, and capital gains from stock sales.

4 0
2 years ago
Lindsey needs a car to get back and forth from her home in the city to her university, which are 4 miles apart. When shopping fo
Brilliant_brown [7]

Answer:

Impulse Buying

Explanation:

She isn't thinking about the long term effects of her purchase, like the repayments, but is instead thinking about her short term gain.

5 0
3 years ago
Tara is shopping at a department store in the mall. before checking out she wants to make sure she brought enough money to pay f
finlep [7]
If Tara bought, sweater $ 52, T-shirt $19, Shoes $68, Jeans $72, Necklace $21, the total would be;
52+19+68+72+21 = 230
But a tax rate of 7% was included, 
Thus, 230 × 0.07 = 16.1
Therefore, the total amount is 230+16.1 = 246.1
Hence, the Estimate amount of money that Tara expects to pay is $250
3 0
3 years ago
A ________________ is linked to the organization’s hierarchy, with some shift of power to team; the leader has limited manageria
Dafna1 [17]

A team is linked to the organization's hierarchy,

with some shift of power to team; the leader has limited managerial power;

decision-making is consultative, democratic, or by consensus

8 0
2 years ago
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