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The Concepts of Mass and Niche Marketing Flashcards | StudBud

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Why could a niche market face difficulties during periods of economic decline?

Which marketing approach is more likely to focus on efficient resource allocation?

The Concepts of Mass and Niche Marketing

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Answers

1
Which marketing approach is more likely to focus on efficient resource allocation?
Neither
Niche marketing
Both
Mass marketing
2
Why could a niche market face difficulties during periods of economic decline?
Reduced consumer spending
Increased product customization
Limited competition
Higher brand loyalty
3
In mass marketing, what is the approach towards product customization?
Standardized for a wide audience
Tailored to individual preferences
Only available online
Highly customized for specific niches
4
Which of the following is a benefit of niche marketing?
Generalized product offerings
Broad audience appeal
Lower ROI
Reduced competition
5
How does mass marketing differ from niche marketing?
Offering specialized products
Prioritizing community engagement
Targeting a broad and diverse audience
Focusing on specific market segments
6
What is the main risk associated with over-specialization in niche marketing?
Reduced market saturation
Limited diversification
Increased brand loyalty
Easy scalability
7
What is the primary focus of mass marketing?
Building brand loyalty in a niche
Reaching a broad audience
Creating specialized products
Targeting a specific segment
8
What does a niche market often have that makes it attractive to businesses?
Specific needs and characteristics
Generalized preferences
High competition
Large market size
9
What can be a challenge in scaling a niche business?
Economic stability
Limited competition
Broad market appeal
Difficulty expanding beyond the niche