MASS MARKETING Flashcards
1
Q
What is market targeting
A
Market targeting is the process of deciding the group(s) to whom a company will attempt to sell their product.
2
Q
What is mass marketing
A
Mass marketing is when an organisation targets the whole market instead of a particular segment (For example: all races, genders or ages)
3
Q
What are some examples of mass marketing companies/ businesses
A
Petrol
British gas
Levis jeans
Mcdonalds
Cleaning products
4
Q
What are some benefits of mass marketing
A
Economies of scaler, such as bulk buying raw materials, lead to lower unit costs
Lower advertising costs per unit
Gretaer brand awareness
Large target market allowing for high sales revenue
5
Q
What is economies of scope
A
Economies of scope: cost reductions that occur when companies increase production.
