Multi-segment strategy
A strategy by which a business directs its marketing efforts towards two or more market segments by developing a marketing mix for each
New product
A new product can be defined as a good, service or idea that is “perceived” by some potential customers as new. It may have been available for some time, but many potential customers have not yet adopted the product nor decided to become a regular user of the product.
Niche marketing
Niche marketing refers to the exploitation of comparatively small market segments by businesses that decide to concentrate their efforts. Niche segments exist in nearly all markets – for example the self-build sports car segment of the motor industry
Non-personal communication
Methods of promotion that do not generate any personal feedback. Advertising is the best example of this
