Keepsake Collectibles focuses its marketing efforts on high-income buyers of unique collectible items. The firm realizes that the number of buyers in this segment of the collectible market is small. However, they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service. Keepsake's approach is an example of:

niche marketing.

Explanation:

From the question we are informed about Keepsake Collectibles which focuses its marketing efforts on high-income buyers of unique collectible items. The firm realizes that the number of buyers in this segment of the collectible market is small. However, they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service. Keepsake's approach is an example of niche marketing.

The niche market can be regarded as subset of market whereby specific product is the target or been focused.

The market niche gives the description about product features and focus on satisfying particular market needs, it also focus on satisfying price range as well as production quality and also the demographics required for target. It can be regarded as small market segment

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