marketing

Question 1

definition of global market

Answer 1

spellings goods or providing a service overseas. different strategies are put in place in different countries

Question 2

advantages of global markets

Answer 2

•higher earnings, markets overseas often exceed margins at home
•spread risks
•economies of scale
•survival
•saturation of the market , and to decrease competition

Question 3

seasonal marketing characteristics

Answer 3

seasonal changes that has a large influence of businesses which provide these products

Question 4

seasonal marketing example

Answer 4

fireworks for bonfire night
ice cream for summer

Question 5

trade market characteristics

Answer 5

marketing role that supplies to distributors, retailer and businesses NOT the consumer

Question 6

definition of mass marketing

Answer 6

aiming a product at a whole market instead of particular parts of the market
eg- tomato ketchup , washing powder

Question 7

advantages to mass marketing

Answer 7

•untargeted marketing can be used
•low economies of scale
•low cost operations

Question 8

disadvantages of mass marketing

Answer 8

•produce goods on a large scale which is expensive to set up
•possibly left with unused resources
• products need to be differentiated

Question 9

what is niche marketing

Answer 9

specialised market segment where you provide a product that is not being supplied by main suppliers

Question 10

advantages of niche marketing

Answer 10

•charge higher prices for higher profit
•sell to markets that are overlooked
•promotion costs lower , as to targeted to a specific group

Question 11

disadvantages of niche marketing

Answer 11

•can attract competition due to being successful
•cannot benefit from economies of scale
•high prices can cause customers to switch to a different product
•does not allow the spread of risk