Question 8: Which of the following statements best describes the diff…

Select all that apply.

1. A

   A niche market targets a small, specific group of customers with specialized needs, while a mass market targets a large, broad group of customers with general needs.

2. B

   A niche market involves offering lower-priced products to a wide audience, whereas a mass market involves offering high-end products to a small, exclusive group.

3. C

   A niche market typically requires large-scale advertising campaigns to reach a broad audience, while a mass market relies on word-of-mouth and targeted marketing.

4. D

   A niche market focuses on standard products that appeal to everyone, while a mass market customizes products to fit individual customer preferences.