Review

Question 1

what is mass marketing

Answer 1

the same marketing mix for the entire market, targeting the entire market
(price, product, place, promotion, people)

Ex: hydro quebec, oil , electricity

no differentiation and average level of product

market does not have the choice (monopoly)

Question 2

what is Segment marketing

Answer 2

A marketing mix adapt to each target segment

Differentiate and adapt product to the segment (ex: promotion to student at the cinema)

• targeting one segment (concentrated)
• one or two segment (broad)
• all segment (comprehensive)

Question 3

What is niche marketing

Answer 3

a marketing strategy aimed at targeting one market segment which is SMALL to the whole market

• company is specialized to meet the needs of this segment (5 people +-)

Luxury product of specific product

Question 4

What is personalized marketing

Answer 4

Every customer is a segment, Customized service to each individual

Question 5

Subways, trip advisors, and Nike ID are example of which marketing strategy

Answer 5

Personnalized marketing

Question 6

What are the 5 key concepts of marketing

Answer 6

• segment the market
• target : select segments that you want to win
• positionning:
• differentiation
• innovation

Question 7

what is Market penetration strategy

Answer 7

same product and same market, try to make people buy more, through

promotion, development,

Question 8

Marketing development strategy

Answer 8

introduce the same product to another segment

ex: open new outlet, new places

Question 9

What is product development dev. strategy

Answer 9

New product to current customers

EX: breakfast into a diner restaurant

Question 10

Diversification dev. strategy

Answer 10

New product into new customers

ex: Ikea selling cars

Question 11

What is marketing mix

Answer 11

5 p’s

different possible ways to satisfy customers 
Price
place
product
promotion

Question 12

What are the business macro-environment

Answer 12

Business environment that affect the demand of the product but are hard/ impossible to control

• economic
• Government (political and legal)
• Demographic
• Socio cultural

Question 13

Give example of economic activities

Threat and opportunity

Answer 13

umemployment- if there is high unemployment, more people cannot afford the product
Inflation
Essential-vs. Non-essential good

Question 14

Give example of economic activities

threat and opportunities

Answer 14

rise of minimum wage

- limiting working hour