ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When a business sells different products to all consumers and markets them in the same way.
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When a business sells the same products to all consumers and markets them in a different way.
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When a business sells different products to all consumers and markets them in a different way.
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When a business sells the same products to all consumers and markets them in the same way.
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Detailed explanation-1: -A mass market, also known as undifferentiated market, is a large group of current and/or prospective customers, where individual members share similar needs. The size of a mass market depends on the product category. Mass marketers typically aim at between 50 and 100 percent of the total market potential.
Detailed explanation-2: -Mass marketing is a strategy that marketing professionals use to appeal to the largest portion of a market. Businesses use the same product, price, distribution and promotion to reach every consumer in the market.
Detailed explanation-3: -Many of your daily products, such as soap, shampoo, and detergent, are examples of mass products. Paper towels, petrol, electricity, gas, and news sites are other examples.
Detailed explanation-4: -Mass marketing characteristics This means the products or services may be more of a necessity rather than specialized or unique. For example, a toilet paper company may create a mass marketing campaign, as it doesn’t have a specialized target audience.