Final answer:
The practice is known as Geographic farming, utilized to focus marketing efforts effectively within a geographic area, harnessing the benefits of economic geography and location specialization. The correct option is C.
Step-by-step explanation:
The practice of focusing most of one's marketing efforts on a particular geographic area to become the real estate 'expert' there is known as Geographic farming. This strategy is used by marketing geographers and real estate professionals to pinpoint areas where their efforts will be most effective.
For instance, they utilize spatial analysis and databases about customers' income, lifestyles, and shopping habits to identify where to best allocate marketing and advertising investments.
Moreover, understanding the economic geography is integral for businesses to make informed decisions on location to minimize costly errors and maximize opportunities. This includes specialty crop areas where certain goods can be grown due to favorable local conditions, making geography a key component in determining the specialization of production.
Hence, Option C is correct.