TYPES OF MARKETS Flashcards
1
Q
Goods and service market
A
produce or supply goods and services to consumers
2
Q
capital and comsumer good market
A
products produce and sold by a business/ machine used from production
3
Q
mass markets
A
a cheap product targeting people across many demographics/gender
4
Q
niche markets
A
expensive product that focus ona specific type of consumer
5
Q
advantage of mass
A
large market size , economic of scale
6
Q
disadvantage of mass
A
lower profit margin , less variety
7
Q
features of niche market
A
smaller target group , limited avalibility
8
Q
advantages of niche
A
larger profit margins , customer loyalty
9
Q
disadvantasge of niche
A
smaller market size , limited avaliblty
10
Q
customer
A
buyer who pays
11
Q
cunsumor
A
the end user who consumes the offering
