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Questions and Answers
What is the definition of target market?
What is the definition of target market?
- The advertising and promotional activities for a product
- The process of developing new product lines
- The price set for a specific product
- The group of people and organizations you decide to sell to (correct)
What is the main difference between targeted marketing and mass marketing?
What is the main difference between targeted marketing and mass marketing?
- The scale of marketing activities
- The geographic location of marketing efforts
- Differentiation of marketing aspects for different customer groups (correct)
- The use of traditional vs digital marketing channels
What are the benefits of segmenting and targeting markets?
What are the benefits of segmenting and targeting markets?
- Avoid head-on competition with other firms (correct)
- Limit the expansion of profitable brands
- Decrease the need for new product development
- Increase competition among firms
What does mass marketing involve?
What does mass marketing involve?
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What does targeted (differentiated) marketing allow for?
What does targeted (differentiated) marketing allow for?
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