Final answer:
Marketers practice local marketing when tailoring brands and promotions to specific customer groups, distinguishing it from other marketing strategies. The correct answer is C) local marketing
Step-by-step explanation:
Marketers tailoring brands and promotions to the needs and wants of specific customer groups practice local marketing. This strategy focuses on customizing the offering and marketing mix to specific local customer groups within individual neighborhoods, cities, or even specific stores.
By contrast, niche marketing targets an even more narrowly defined group of customers, multi-segmented marketing appeals to several distinct segments, mass marketing aims at the whole market with one offer, and individual marketing customizes the marketing mix for each individual consumer.
The debate on whether a market-oriented economy produces too much variety is complex. Critics argue that excessive product differentiation and advertising is wasteful, while defenders claim that consumers benefit from the variety available. This controversy reflects differences in how much value is placed on variety by consumers and businesses within a market-oriented or monopolistically competitive environment.