Question

Identify two examples of the different markets for TGH products

Answer 1

Answer:

TGH is a public limited company which makes shoes. it makes a variety of designs for the mass market. the mass market is for young people who want fashionable sports shoes asa well as those who play sport. the directors recently decided to target a niche market which his for a particular market segment design shoes.....

Answer 2

Answer:

T-shirts with slogans specific to a culture or city, Apparel with local sports teams, Prints/photobooks of a specific cityscape  are two examples of the different markets for TGH products

Explanation:

• TGH is a publicly traded company that manufactures athletic footwear. It produces a wide range of styles for the mass market. Young people who play sport and those who want fashionable sport shoes are both targets of the mass market. The directors recently made the decision to focus on a niche market, or a specific market segment of consumers who have medical issues with their feet and require specially crafted footwear.
• In essence, a niche market is a subset of a larger market distinguished by its particular preferences, requirements, and identification. They distinguish themselves from the more general market segment due to the various needs and preferences.
• For instance, there are numerous niches in the market for girls' tops. Teenage girls' tops differ from adult women's tops, which are further divided into tops for schoolgirls and college-bound women. As stated, the market for girl's tops as a whole encompasses all of these niches.

Based on specific needs and preferences, almost all markets can be further divided into various segments. The most frequent and simple methods for focusing on a niche market are:

• Price (luxury, moderate, discount)
• Demographics (gender, age, income level, education level)
• Level of quality (premium, handmade, economical)
• Psychographics (values, interests, attitudes)
• Geographic's (residents of a certain country, city, or even neighborhood)

Keep in mind this list of niche markets and product ideas is simply a place to start your search for a potential niche market—you can always go in a completely different direction or find other niche opportunities within each category:

• Conscious consumers ==> Reusable drinking straws, Cruelty-free cosmetics, Vegan-friendly apparel

• Menstrual cups==>Melatonin gummies, Mushroom-infused coffee

Massagers, Kombucha brew kits, Oil diffusers, Oat milk

• Health and wellness
• Pet owners
• The LGBTQ+ community
• Travelers
• Gamers
• Homeowners
• Remote workers
• Locals