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MARKETING, COMPETITION AND THE CUSTOMER (IF THE MARKETING DEPARTMENT IS…
MARKETING, COMPETITION AND THE CUSTOMER
MARKETING DEPARTMENT
Most businesses, unless very small, will have a marketing department
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NICHE MARKET
Is a small, usually specialised, segment of a much larger market
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DISADVANTAGES
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Businesses in the niche market specialise in only one product therefore if the one product discontinues or goes out of trend, the business will get less income
MARKET SEGMENTS
is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences
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