Principles of Marketing
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Selling the same product, at the same price, using the same promotion and place channels with everybody</p> Signup and view all the answers

    What does targeted (differentiated) marketing allow for?

    <p>Differentiating some aspect of marketing for different groups of customers selected</p> Signup and view all the answers

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