Marketing And The Competitive Environment- Effective Marketing Flashcards
0
Q
Advantages of niche market
A
- few competitors
- high prices
- good for small businesses
1
Q
Marketing aims
A
- attract customer attention
- interest customers
- develop a desire/want
- lead customers to purchase products
2
Q
Disadvantages of niche market
A
- small target audience
- risky
- Lower profits due to size of market
3
Q
Mass market
A
Large market that is unsegmented
4
Q
Advantages of mass marketing
A
- large scale of production
- brand awareness
- large target audience
5
Q
Disadvantages of mass marketing
A
- difficult to appeal to customers
- high capital costs
- difficult to react to changes in demand
