Niche Marketing vs. Mass Marketing

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Questions and Answers

Which type of businesses are more likely to be fine with high labour turnover?

  • Businesses that require skilled or specialized labor
  • Technology firms
  • Engineering firms
  • Fast food chains (correct)

What is the main reason why technology or engineering firms may prefer lower labour turnover?

  • For better company image
  • To reduce training and development costs (correct)
  • To increase employee satisfaction
  • To encourage competition

What is the main difference between voluntary dismissal and involuntary dismissal?

  • Employer's choice only applies in voluntary dismissal (correct)
  • Employee's choice only applies in involuntary dismissal
  • The control over the decision lies with the employer in both cases
  • Involuntary dismissal is always fair, while voluntary dismissal can be unfair

What is constructive dismissal?

<p>When an employee resigns due to intolerable working conditions created by the employer (C)</p> Signup and view all the answers

Why might businesses like fast food chains find it easier to replace workers who leave?

<p>Because of the low skill requirement (B)</p> Signup and view all the answers

Why do technology or engineering firms prefer lower labour turnover compared to businesses like fast food chains?

<p>To avoid frequent retraining of highly skilled workers (A)</p> Signup and view all the answers

What is a key advantage of physical distribution channels according to the text?

<p>Wide reach (C)</p> Signup and view all the answers

Which aspect is a disadvantage of physical distribution channels as mentioned in the text?

<p>Inventory management (C)</p> Signup and view all the answers

What is the primary characteristic of online marketplaces highlighted in the text?

<p>Easy access to products (A)</p> Signup and view all the answers

Which distribution channel is associated with selling products through social media platforms?

<p>Social Media (B)</p> Signup and view all the answers

What is NOT mentioned as a disadvantage of physical distribution channels in the text?

<p>Remote access (D)</p> Signup and view all the answers

Which distribution channel allows for immediate gratification according to the text?

<p>Physical stores (C)</p> Signup and view all the answers

What is one major implication of high labour turnover on a company's recruitment costs?

<p>Increased costs due to recruiting and training new employees (A)</p> Signup and view all the answers

Why does high labour turnover lead to reduced productivity in a company?

<p>New employees take time to become fully productive (B)</p> Signup and view all the answers

What is a likely consequence of high labour turnover on employee morale?

<p>Reduction in morale due to lack of job security (B)</p> Signup and view all the answers

How can increased experience and knowledge benefit a company?

<p>By improving productivity and efficiency (D)</p> Signup and view all the answers

Why are employees who have been with a company for longer periods typically more productive?

<p>Due to familiarity with the company's processes and procedures (C)</p> Signup and view all the answers

What can drive innovation and create new business opportunities for businesses?

<p>Sustainable sourcing practices (D)</p> Signup and view all the answers

Which type of businesses are more comfortable with high labour turnover?

<p>Businesses requiring a large number of temporary workers, like retail or hospitality (C)</p> Signup and view all the answers

Which of the following is NOT a common sustainability measure for businesses mentioned in the text?

<p>Using non-renewable materials (B)</p> Signup and view all the answers

What is one way businesses can reduce costs by implementing sustainability measures?

<p>Installing renewable energy systems (C)</p> Signup and view all the answers

Which aspect of supply chain management involves the delivery of goods and services to customers?

<p>Delivery (A)</p> Signup and view all the answers

How can businesses benefit from green building design and construction?

<p>Reduce costs on energy bills (B)</p> Signup and view all the answers

Why should businesses make sustainability a priority according to the text?

<p>To create a more sustainable future (D)</p> Signup and view all the answers

What is a characteristic of niche markets?

<p>High customer loyalty (D)</p> Signup and view all the answers

Why are niche products or services often priced higher?

<p>Specialized nature of the market (B)</p> Signup and view all the answers

What is the primary goal of mass marketing?

<p>Reach as many potential customers as possible (B)</p> Signup and view all the answers

Which company exemplifies mass marketing in the text?

<p>Coca-Cola (B)</p> Signup and view all the answers

What is an advantage of mass marketing?

<p>Wide reach leading to high sales volume (C)</p> Signup and view all the answers

What is a disadvantage of mass marketing mentioned in the text?

<p>Higher competition in crowded markets (C)</p> Signup and view all the answers

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