Niche markets - Study guides, Revision notes & Summaries

ARE 136 CH 6 | 92 Questions and Answers with Correct Answers 2024. 1. When a brand team defines the target market of consumers for their product, they may also identify many smaller subsets of consumers within their broad market. a. True b. False - a. True 2. In the world of advertising, markets are positioned, but products are segmented. a. True b. False - b. False 3. STP marketing includes three factors—identifying, positioning, and informing. a. True b. False - b. False 4. If Gen...

Four types of markets Existing, Resegmented Niche, Cost, New revenue model Cash a business generates from each customer segment. value customers are willing to pay. ways they can pay. how does each stream contribute. 1)The type of revenue (such as purchase or rent) 2)The frequency of that revenue (a one-time charge or recurring at certain intervals of time) 3)The price level of that revenue (typically per unit of product or service) relative to competitors 4)The number of distinct streams o...

MARK 3000 - Test 3 - UGA Grantham Questions and Answers | Latest Version | 2024/2025 | Already Passed What are the key factors to consider when evaluating market segmentation strategies? Key factors include demographic characteristics, geographic location, psychographic traits, and behavioral patterns of the target audience. How can businesses assess the effectiveness of their positioning strategy? Effectiveness can be assessed by measuring brand perception, customer feedback, and...

Edexcel A-Level Business Paper 3 QUESTIONS AND ANSWERS LATEST UPDATE market definition anywhere buyers and sellers meet mass market aim and eg aimed at everyone eg. cornflakes pros of mass markets (2) - large market - economies of scale economies of scale definition spread your costs over a large number of units cons of mass markets (2) - more competition - more expensive to operate in niche market definition and eg small subset of the market with specific needs eg. chi...

Market Segmentation - Answer The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups. Concentrated targeting Strategy - Answer A strategy used to select one segment of a market for targeting marketing efforts. Market - Answer People or organizations with needs or wants and the ability and willingness to buy. NIche - Answer One segment of a market Positioning - Answer Developing a specific marketing mix to influence pote...

To create a competitive edge companies need to focus on ________________ correct answers customers' evolving wants and needs Porter's three generic strategies: correct answers 1. Overall Cost Leadership 2. Differentiation 3. Focus Differentiation is perceived from the____________ correct answers client/customer Differentiated goods are the opposite of__________ correct answers luxury goods Luxury goods are only for__________. Differentiated goods are marketed to ____________ corr...

VM - Answer-establishes and maintains stores image in the customers mind VM is a part of what - Answer-promotional mix: advertising,marketing , events, personal selling VM includes - Answer-window/interior display, signage, store layout, presentation , lighting what are three basic elements of communication - Answer-1- sender 2-message 3- receiver Atmospherics is ... - Answer-the elements (such as lighting,sound and aromas) Atmospherics appeal to what - Answer-they appeal to ou 5 senses a...

ANSC 1401 - TTU (Lab Final Review) Questions with Complete Solutions Which of the following situations would likely lead to agitation or excitement of a gregarious animal? separation from the group Which of the following might be a reason for working cattle through a squeeze chute? ear tagging, vaccination, and palpation Which of the following animals would likely have the largest flight zone? extensively raised cow True or False: Livestock will rarely balk or hesitate to move fr...

What is a Business? - Answer-an organization that provides goods and services to earn a profit What is a nonprofit? - Answer-any profits generally put back into the organization, instead of going to owners/shareholders Examples of non-profit goals: - Answer-- environmental preservation - Mental health - decreasing homelessness Roles of Business in Society (5) - Answer-- employment -production of goods/services we want/need - innovation of new goods/services - community leadership/suppor...

Sales Management Exam 1 - Questions and Answers A ___________ environment affords the opportunity to combine large amounts of information and then use __________ techniques to learn more about current and potential customers. (A) One-to-one; strategic partnerships (B) Customer loyalty; delivery (C) Data warehouse; data mining (D) Just-in-time data; efficient customer response (ECR) (E) Preferred supplier; total quality management (TQM) Which of the following is NOT a part of the process cycle ...