Niche or concentrated marketing has great advantages. What is the good and bads consequences of picking it as your product strategy.
A firm goes after a large share of one or a few smaller segments or niches.
Sells a specific product (i.e. socks)
Pros: can market more effectively by fine tuning products and more efficiently because it has higher research on those they serve; lets smaller companies focus their resources, highly profitable
Cons: low profit margins if their segment turns sour; higher risks with lower diversification
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Principles of Marketing
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