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Markets (Niche Marketing (Niche Marketing is where a business targets a…
Markets
Niche Marketing
Niche Marketing is where a business targets a smaller segment of a larger market, where the customers have specific needs and wants
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A higher price can often be charged - customers are prepared to pay for expertise and tend to be loyal
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Market Segmentations
Demographic
Age, Social Class, Gender and Income
Geographic
Rural, Urban, Suburban. Global marketing often requires different products for different countries
Psychographic
Allows targeting of groups on personality and emotionally based behaviour - Attitudes, opinions and lifestyle
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