targeting

Question 1

what is the definition of targeting marketing?

Answer 1

occurs when a business decides which segment it wants to operate in

Question 2

what factors may influence the choice of target market?

Answer 2

. number of people who’s needs are met with the product
. degree of comp
. nature of product
. even of demand
. understandment of needs and wants of a specific segment
. age, theme of product

Question 3

what is mass marketing?

Answer 3

mass marketing a product that will appeal to the need of most of the people in the market

Question 4

what does mass marketing lead to?

Answer 4

-higher sales- more profits- low costs and higher profits

Question 5

what is niche marketing?

Answer 5

niche marketing a business that focuses on a specific area of the mass market

Question 6

what does niche marketing lead to?

Answer 6

-lower sales- small scale product production- higher costs and higher prices

Question 7

what are the advantages of mass marketing?

Answer 7

. low unit costs

. larger customer base

Question 8

what are the disadvantages of mass marketing?

Answer 8

. more competitors

. lower quality products

Question 9

advantages of niche marketing ?

Answer 9

. not much competitors

. higher prices

Question 10

disadvantages of niche marketing?

Answer 10

. if it grows, it could attract bigger competitors