Topic 28 - Effective Marketing

Question 1

What is the opposite to niche marketing?

Answer 1

Mass marketing

Question 2

2 advs of mass marketing

Answer 2

1) High sales at low prices = costs spread over many units = afford advertising despite low profit margins
2) large range of potential customers = regular revenue and irregular cash flow problems

Question 3

Two main strands of marketing?

Answer 3

Identifying customer needs and expectations

Meeting customer needs (product/service matches customer needs expectations)