B. c. logistics management ... c. market demassification. Why Niche marketing matters. d. The major influence on market growth rates is government regulation. Which of the following refers to a marketing strategy in ... b. it can create logistical problems when the company tries to meet varied requirements. Flashcards - MIS Chapter 3 - FreezingBlue Target Market c. Meeting needs profitability. A firm utilizing multisegment marketing is less vulnerable to competition. B. Experiential marketing. E. Concentrated marketing. A) most marketing managers are overloaded with data and often overwhelmed by it B) most marketing managers are concerned solely about the duplication of content C) companies have ceased to feel the need for … A small target market that purchases high-end goods can still be attractive to an expensive watch company because: Log in for more information. niche tourism market. Take the quiz test your understanding of the key concepts covered in the chapter. Targeting a very select group of customers. Why Niche marketing matters. International Management Chapter 8 Flashcards | Quizlet Answer (1 of 3): Apple is not and never has been a niche market. B) Comparable to a niche market in the physical world. Solution: Doing business electronically describes e‐commerce. 2. Targeting an extremely select group of customers. With the advent of the web, it has become possible to target particular segments of a market with a laser focus approach. d. mass marketing. Which of the following would best benefit the development of niche marketing. E. Concentrated marketing. The concept overall suggests the U.S. economy is likely to shift from one of mass-market buying to an economy of niche buying all through the 21st century. 6. Accounting questions and answers. A small target market that purchases high-end goods can still be attractive to an expensive watch company because: Content marketing refers to informational, valuable content like blog posts, how-to videos, and other instructional materials. a) Niche objectives. It enables a marketer to customize offers and, in some cases, products to fit individual needs. A decline in the cost of advertising on radio and newspapers enabling firms to. It involves a product being marketed to the entire market with no differentiation at all. Viral marketing. This is more complicated but has the potential for greater rewards. B. Multi-segment marketing. Niche marketing. Niche marketing is a strategy which premise is to target a subset of a market which can be of various sizes. Where a marketing strategy focused on the whole potential market used to be effective when mass advertising was possible. These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited. Targeting multiple groups of consumers. • NB: This niche market does not include hunting tourism (e.g. Marketing is the term used to refer only to the sales function within a firm; Marketing managers usually don't get involved in production or distribution decisions; Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization. The scope and nature of a marketing strategy refers to the approach a marketing team uses. Select one: a. Which of the following target marketing strategy is most similar to mass marketing? C) Focused on a common interest, hobby or characteristic. differentiate their service. Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics? Which term refers to the total time it takes a child to purchase lemonade ingredients, create the lemonade, and set up operations for a neighborhood lemonade stand? R&D and product design. Benefit marketing. A) focused marketing B) narrowcast marketing C) micro targeting D) niche marketing. All new markets develop at about the same rate. 3 Niche Marketing Examples. Niche markets are often segments of larger industries and verticals. Here are a few brands that found a way to drill down into their industry to market to a niche audience. There are hundreds of brands that sell sweet treats and snack foods such as cookies, brownies, popcorn, and cupcakes. The global health and wellness market reached a value of $3.31 trillion … Viral marketing refers to a technique in marketing a product or a service where users help in spreading the advertiser's message to other websites or the users create a scenario which can lead to multi-fold growth. Product line C. Product portfolio D. Niche market E. Market mix A product line refers to a group of products that consumers are likely to use together or Answer to: 1. Which of the following refers to niche marketing? Virtual marketing. Market: Market relates to a term used to describe a place where people meet to transact or exchange goods and services. Local marketing c. Niche marketing d. Undifferentiated marketing a. New answers. It is a type of market segmentation that allows a company to focus its efforts on a limited segment in the market. Market: A market refers to the place consisting of buyers and sellers. Market growth rates are getting shorter over time. a. A) product formation chain B) PERT chart B) business-level C) supply-level D) corporate-level Answer: C) strategy D) value … Multiple Choice Quiz. find a market niche, specialize in it and make profits from high margins because consumers in niche markets are willing to pay higher prices. GeoCities was one of the earliest social networking services, launched in November 1994, followed by Classmates.com in December 1995 and SixDegrees.com in May 1997. The other way that producers can participate in niche marketing is to develop a micro-niche of their own. Accounting. Describe in details the brand issue facing the company presented in the case give examples from […] Niche Marketing. Definition: Minimum Viable Product or MVP is a development technique in which a new product is introduced in the market with basic features, but enough to get the attention of the consumers. The final product is released in the market only after getting sufficient feedback from the product's initial users. Select one: a. niche marketing b. product differentiation c. product mixing d. target marketing . increase efficiency. Niche marketing helps create more intimate relationships between the subset you’re targeting and the brand you’ve built.. 31. Which of the following refers to niche marketing? Improving the quality of life for consumers. Target Market. 1. Product differentiation refers to. While in the past, it was possible through mass marketing and mass advertising to reach a massive audience. Direct marketing refers to advertisements targeting the consumer directly. MKT 201 CH. Mass marketing b. Log in for more information. Health and wellness. Virtual marketing. Question 26 (1 point) Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? Back in the day when computer desktops were termed “personal computers, “ this did not apply to Apple. Added 10/12/2015 5:40:54 AM. Characteristics of the niche market In general, a niche market has the following characteristics: Promotion. c) Niche distribution. as any physical good, service or idea that stisfies a want or need. eliminate any competition and monopolize the market. Description: Viral in literal sense means anything which spreads fast (across users). B)Targeting an extremely select group of customers. In time, Apple innovated relentlessly, very likely the result of Steve Jobs. Because niche marketing focuses on specific groups of users, they’re more likely to buy your product than someone caught in a mass marketing net. C)The process of gathering information on a select group of customers. The selection of a target market One or more segments that have been chosen as the focus for business operations. A) More involved members who share a common interest. C. Standardized marketing. Experiential marketing. 8. jeifunk. • This definition applies to both domestic and international avitourists in South Africa. The term marketing refers to: A. Benefit marketing. Avitourism Defined • Avitourism refers to travel outside of one’s usual environment,5 to view birds in their natural habitat. For a market to perform efficiently and effectively, it must be regulated. Identifying the target audience (niche market benefits) You have decided to target a specific audience, and it is not the mass market. Question Description Refer to the HBR case Niche to Market – HBR 2018 and complete the following tasks Task 1. Answer: d. 17. On a Thursday morning in early November, the sounds of hockey bounce off the walls inside a fanless rink. When it comes to affiliate marketing, finding a profitable niche is the priority for every newbie. Which of the following refers to the unauthorized sale of new, branded products diverted from authorized distribution channels or imported into a country for sale without the consent or knowledge of the manufacturer? Marketing Management. The following sections in this report will outline how to effectively segment, target, and position, your product or service. Entrepreneurship MCQ Entrepreneurship Chapter 7 _____ refers to the size of the market, whereas _____ refers to the geographic range covered by the market. A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large. d. The major influence on market growth rates is government regulation. A) Media buy B) Media mix C) Niche media D) Media planning E) Mass media Answer: C e. The process of segmenting buyers geographically. c. The process of gathering information on a select group of customers. Alchemistro Inc. is a firm that manufactures chemical … Rating. Principles of Marketing, 15e (Kotler/Armstrong) Chapter 4 Managing Marketing Information to Gain Customer Insights 1) With the recent explosion of information technologies, . or target markets will be based on the segments that have been identified as having the greatest potential for the business. 26) Which of the following terms refers to the pattern of decisions and actions that managers take to use core competences to achieve a competitive advantage and outperform competitors? b. a) Grey marketing. A _____ marketing strategy develops products and promotions designed to please large groups of people. Group of answer choices Targeting a very select group of customers. Accounting questions and answers. This problem has been solved! Niche definition, an ornamental recess in a wall or the like, usually semicircular in plan and arched, as for a statue or other decorative object. This answer has been confirmed as correct and helpful. C. Differentiated marketing. x refers to a market-coverage strategy in which a firm decides to ignore market segment differences & go after the whole market w/one offer. Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? Design an executive summary for the case highlighting all the critical points of the case. A. Differentiated marketing. There are four basic types of market opportunities: Market Penetration, Market Development, Product Development, and Diversification. B. Multi-segment marketing. Principles of Marketing, 15e (Kotler/Armstrong) Chapter 4 Managing Marketing Information to Gain Customer Insights 1) With the recent explosion of information technologies, . See the answer. marketers define a product. Niche markets (such as the gay market) refer to: 1 point. Niche markets contain small numbers of consumers they tend to be faced by bigger and more frequent swings in consumer spending than larger markets. Entrepreneurship Chapter 7 A. b. a. market segments that are large enough in size and affluent enough to warrant special consideration by advertisers. a. Markets are product groupings. Answer & Solution. E-commerce (EC), an abbreviation for electronic commerce, is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. b. (In Chapter 6 "Marketing Basics", a target market refers to one or more segments that have been chosen as the focus for business operations.) Good marketing requires one of the following (1) Proper planning (2) Good team work ... 47. E)The process of segmenting buyers geographically. A firm's marketing mix refers to the combination of: A. goods the firm offers to different market segments B. advertising media the firm utilizes to promote its products C. strategies regarding product, price, place, and promotion D. people directly involved in making marketing decisions 58) Which of the following refers to channels that are focused and generally used to reach narrower segments, often with unique demographic characteristics or interests? 53 Which of the following refers to the combination of the media used and the from MOS 2320 at Western University • NB: This niche market does not include hunting tourism (e.g.
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