Question

Firms engage in __________ when their intimate knowledge and expertise in one market allows them to offer customized marketing programs that not only deliver needed products but also provide needed solutions to customers’ problems.

Answer 1

Answer:

The correct answer is letter "C": market specialization.

Explanation:

After segmenting their market, companies tend to start their phase of market specialization with the information gathered in their research which is helpful to spot what the company's best segment of the market is based on age, gender, and consumer income. With that information, firms can drive their efforts toward producing a good or rendering a service that satisfies the needs of a specific group of them.