chapter 53

Question 1

what is niche marketing

Answer 1

targeting a clear and identififiable segment of the market. however smaller markets have less potential to make a profit. e.g. rolls royce

Question 2

what is mass marketing

Answer 2

business attemps to reach the entire market with a single product idea e.g. coca cola

Question 3

what is market orientation

Answer 3

this is where the businss is trying to ensure that it targets each of its products and gets the right product.

Question 4

what is product orientation

Answer 4

gets the product right.

Question 5

people- in services

Answer 5

personnel input in the buying process is vital in the delivery of a service

Question 6

process- in services

Answer 6

attention to this helps companies focus on improving the performance so the customer needs are met.

Question 7

physical evidence- in services

Answer 7

the space that surrounds the devivery of a service is vital