BUISENESS MANAGEMENT
MARKETING
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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: -Mass marketing, or undifferentiated marketing, involves selling the same product to everyone. The trend today is toward more precise, targeted marketing.
Detailed explanation-2: -By contrast, mass marketing can be defined as: Where a business sells into the largest part of the market, where there are many similar products on offer. The key features of a mass market are as follows: Customers form the majority in the market. Customer needs and wants are more “general” & less “specific"
Detailed explanation-3: -The term “mass market” refers to a market for goods produced on a large scale for a significant number of end consumers. The mass market differs from the niche market in that the former focuses on consumers with a wide variety of backgrounds with no identifiable preferences and expectations in a large market segment.
Detailed explanation-4: -Mass-market products are designed and produced for selling to large numbers of people.
Detailed explanation-5: -Examples of mass-market retailers include big-box stores such as Target, Sam’s Club, and Best Buy, as well as brands like Levi Strauss and Gap, and e-retailers like Amazon. Supermarket, drugstore, mass merchandise, and warehouse chains are all considered mass-market retailers.