marketing 3

Question 1

Advantages of advertising. (give at least 3)

Answer 1

=Effective for building brand awareness and loyalty.
=Repetition that means messages can be communication
=Control of message
=wide coverage and can target new customers

Question 2

Disadvantages of advertising. (only 2!!!!)

Answer 2

=Often expensive

=One-way communication

Question 3

Define market segments.

Answer 3

=A group of customers or buyers with similar needs

Question 4

What are the main 3 categories of market segmentation?

Answer 4

=Location/geographical
=Demographics
=Income

Question 5

What does segmentation involve?

Answer 5

=INVOLVES dividing a market into parts that reflect different customer needs and wants.

Question 6

Drawbacks of segmentation/MARKET RESEARCH are:

Answer 6

=Data/research can be inaccurate/unreliable
=Business may be unable to satisfy customers even with research and data
=Collecting data process can be time-consuming

Question 7

Advantages of segmentation are:

Answer 7

=Helps product development
=Better matching of products to specific customer needs
=Allows business to grow its share by targeting fast-growing segments