Marketing

Question 1

Explain why customer spending pattern may charge?

Answer 1

(i)change in taste and perferences
(ii)change in technology
(iii)change in income

Question 2

Explain why the market have become more competitive?

Answer 2

(i)Golbalisation
(ii)Improvement I transport and infrastructure
(iii)Internet/E-commerce

Question 3

Explain how business can respond to changing spending patterns and increase competition?

Answer 3

(i)Maintaining good customer relationships
(ii)Keep improving its existing products
(iii)introduce new product

Question 4

Explain niche marketing

Answer 4

It identify and exploit a small segment of a larger market by developing products to suit it

Question 5

Advantage of niche marketing

Answer 5

(i)small market can thrive
(ii)firms can sell their product to sell right price
(iii)firms can focus on the need of one customer group

Question 6

Explain the limitations of niche marketing

Answer 6

(i)Lack of economic of sale
(ii)Risk of over dependent on one product
(iii)Likely to attract competitor

Question 7

Explain mass marketing

Answer 7

It is the selling of the same product to the whole market with no attempt to target group in it

Question 8

Explain the advantages of mass marketing

Answer 8

(i)Larger amount of sale
(ii)Can benefit from economic of sale
(iii)Risk are spread

Question 9

Explain the disadvantages of mass marketing

Answer 9

(i)Face more competition
(ii)Can’t charge higher price