GENERAL KNOWLEDGE

GK

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The contrast between mass marketing and one-to-one marketing illustrates that segments become more ____ as they increase in size.
A
heterogeneous
B
favorable
C
homogeneous
D
unfavorable
Explanation: 

Detailed explanation-1: -Mass marketing targets the average customer and one to one marketing targets the individual customers. In other words mass marketing assumes that an average customer can be satisfied with a generic product where as one to one marketing identifies customer needs based on individual basis and offer customized solutions.

Detailed explanation-2: -Audience segmentation is the process of determining which consumer traits characterize a certain group, or segment of a given market. In mass marketing, marketers ignore audience segmentation in favor of reaching all consumers in a large market and appealing to them with a product that most people need or use.

Detailed explanation-3: -It’s difficult to attract new customers through mass marketing when competitors are constantly targeting the same people as you. One-to-one marketing increases customer lifetime value. Personalized marketing helps customers feel that your brand hears and understands their needs. Personalization is profitable.

Detailed explanation-4: -Third, one-to-one marketing can be more cost-effective than mass marketing campaigns. By focusing on specific customers rather than reaching a broad audience, companies can be more strategic in their marketing efforts, which can help reduce marketing costs and increase ROI.

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