which of the following refers to niche marketing

Which of the following refers to niche marketing BASICS OF MARKETING MCQ FOR CHAPTER III, IV & V Entrepreneurship Chapter 7 A. Long Tail Definition Indicate whether the statement is true or false. A niche ... Which of the following refers to the unauthorized sale of new, branded products diverted from authorized distribution channels or imported into a country for sale without the consent or knowledge of the manufacturer? Answer: d. 17. Which of the following For a market to perform efficiently and effectively, it must be regulated. Accounting questions and answers. Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics? All of the following terms have been used to refer to business logistics except: a. business logistics. MARKETING In its broadest sense, marketing is about creating and accumulating customers. MKT 210 - Marketing Principles Chapter 5 Flashcards | … Defining Marketing This is more complicated but has the potential for greater rewards. Target Market It's a practice day at Van Andel Arena in Grand Rapids, Michigan, a … a) Grey marketing. Added 10/12/2015 5:40:54 AM. Download Mobil App - Ask Question. A niche market is a marketing term used to refer to a portion of a market segment in which individuals possess homogeneous needs and characteristics, and the latter are not entirely covered by the general offer of the market. Marketing Management Multiple Choice Questions and Flashcards - MIS Chapter 3 - FreezingBlue 3 Niche Marketing Examples. Niche markets are often segments of larger industries and verticals. Here are a few brands that found a way to drill down into their industry to market to a niche audience. There are hundreds of brands that sell sweet treats and snack foods such as cookies, brownies, popcorn, and cupcakes. 3. Take the quiz test your understanding of the key concepts covered in the chapter. • NB: This niche market does not include hunting tourism (e.g. Question. Get to know your ideal customer. Which of the following would best benefit the development of niche marketing. Select one: a. niche marketing b. product differentiation c. product mixing d. target marketing . b. The following sections in this report will outline how to effectively segment, target, and position, your product or service. Answer: Option A. A small target market that purchases high-end goods can still be attractive to an expensive watch company because: c. niche marketing. niche tourism market. This answer has been confirmed as correct and helpful. 117. A. Differentiated marketing. The marketing function and the marketing mix serve the overall business strategy. B. marketers define a product. Solution: Doing business electronically describes e‐commerce. Markets are product groupings. Because niche marketing focuses on specific groups of users, they’re more likely to buy your product than someone caught in a mass marketing net. A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large. D)Targeting multiple groups of consumers. differentiate their service. Another way to gain insight and spark inspiration for niche … Mass marketing. Question Description Refer to the HBR case Niche to Market – HBR 2018 and complete the following tasks Task 1. Which of the following target marketing strategy is most similar to mass marketing? See more. Niche marketing helps create more intimate relationships between the subset you’re targeting and the brand you’ve built.. Log in for more information. Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market? Differentiated marketing is something which refers to choosing select groups of people to sell. Rating. Product line C. Product portfolio D. Niche market E. Market mix A product line refers to a group of products that consumers are likely to use together or Is like a growing number of families whose households are caring for aging parents and. Marketing plans are designed to capture market share and defeat competitors. It is summarized in seven Ps by which the enterprise will engage competitors and gain customers. Accounting. The economic maxim of the relationship between risk and reward potential is … Target Market. wingshooting). Benefit marketing. 19. Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you’ve read the chapter to see how well you’ve understood. The last step in the marketing process often includes: building relationship with customers. Local marketing c. Niche marketing d. Undifferentiated marketing a. Niche markets (such as the gay market) refer to: 1 point. These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited. The most formal definition of marketing is ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐. With the advent of the web, it has become possible to target particular segments of a market with a … Log in for more information. Which of the following refers to a self-contained business within a company with its own functional departments and accounting systems? Characteristics of the niche market In general, a niche market has the following characteristics: C) Focused on a common interest, hobby or characteristic. a. micromarketing b. segment marketing c. competition marketing d. niche marketing . Niche marketing refers to a marketing strategy in which the focus is on small but profitable market segments. Product Niche. Which of the following is a true statement? E-commerce (EC), an abbreviation for electronic commerce, is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. Niche marketing might refer to strategies targeting certain groups, such as seniors. Selling the same product to everyone is known as undifferentiated marketing. Niche marketing is a strategy which premise is to target a subset of a market which can be of various sizes. Where a marketing strategy focused on the whole potential market used to be effective when mass advertising was possible. Benefit marketing. a. AACSB Category: Use of IT Classification: Conceptual 8) Which of the following is not a characteristic of a vertical network? This problem has been solved! Disadvantages of niche marketing Large national firms may force other businesses out. This is an example of a _____ strategy. Virtual marketing. Describe in details the brand issue facing the company presented in the case give examples from […] Which of the following refers to niche marketing. Which of the following is a strategic marketing planning tool? There are four basic types of market opportunities: Market Penetration, Market Development, Product Development, and Diversification. Direct marketing refers to advertisements targeting the consumer directly. The selection of a target market One or more segments that have been chosen as the focus for business operations. d) Authorized distribution. While the return from this type of niche marketing is not as spectacular as landing a large corporation, the possibility of competition is greatly diminished, meaning the marketer is likely to retain the business at the initial rate for a much longer period of time. b. This is where you can come up with a solution in the respective position. Which of the following target marketing strategy is most similar to mass marketing? 31. Which of the following refers to niche marketing? e. The process of segmenting buyers geographically. The term marketing refers to: A. Question 26 (1 point) Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? When it comes to affiliate marketing, finding a profitable niche is the priority for every newbie. An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization. A niche market does not mean a small … Niche market means: (1) a free market (2) a social market (3) equity market (4) capital market (In Chapter 6 "Marketing Basics", a target market refers to one or more segments that have been chosen as the focus for business operations.) R&D and product design. Which of the following refers to niche marketing? C) This is most appropriate for small, entrepreneur-dominated companies with one or two product lines that operate in a small niche market, with employees acting as jack-of-all trades. 9. Which of the following terms refers to a group of products that consumers are likely to use together or perceive as similar in some way? b) Hold objectives. C)The process of gathering information on a select group of customers. It involves a product being marketed to the entire market with no differentiation at all. Viral marketing. A. volume B. mass Description: Niche marketing is a marketing tactic deployed to target a specific market segment which is unique. C. Standardized marketing. Product mix B. Targeting a very select group of customers. Multiple Choice Quiz. • This definition applies to both domestic and international avitourists in South Africa. Which of the following is a successful business process redesign described in the case? Learn different types of direct marketing, how each of them works, and … Individual marketing b. Market growth rates are getting shorter over time. Answers: 1 on a question: Which of the following refers to niche marketing? Principles of Marketing, 15e (Kotler/Armstrong) Chapter 4 Managing Marketing Information to Gain Customer Insights 1) With the recent explosion of information technologies, . But, what exactly does niche refer to? A _____ marketing strategy develops products and promotions designed to please large groups of people. A) product formation chain B) PERT chart B) business-level C) supply-level D) corporate-level Answer: C) strategy D) value … Which of the following best represents the pricing behavior of firms in an oligopolistic market? A mass market is about reaching as many people as possible, while a niche market is about reaching only a specific group of people. An example of a business catering to a mass market is a national grocery store chain, while a niche business example might be a local butcher shop. There are many large companies like IBM that have lost a chunk of their market share to nichers. d. it can dilute the brand's overall image. The scope and nature of a marketing strategy refers to the approach a marketing team uses. wingshooting). 1. Why Niche marketing matters. The concept overall suggests the U.S. economy is likely to shift from one of mass-market buying to an economy of niche buying all through the 21st century. A firm utilizing multisegment marketing is less vulnerable to competition. E. Concentrated marketing. Which term refers to the total time it takes a child to purchase lemonade ingredients, create the lemonade, and set up operations for a neighborhood lemonade stand? Another word for complete segmentation is: a. macromarketing. The nominal scale used for marketing research, refers to (1) Population characteristics based on age or sex or ownership of a specific consumer durable ... 110. focusi ng on market niche. Identifying the target audience (niche market benefits) You have decided to target a specific audience, and it is not the mass market. c. The process of gathering information on a select group of customers. (a) May be preferable to a stuck-in-the-middle position. Ans: Stock exchange market. A recent study by the Aberdeen Group analyzed which segmentation bases were used by the top 20 percent of 220 organizations surveyed. increase efficiency. Promotion. half page Task 2. The process of gathering information on a select group of customers. b. Hilton Hotels’ use of customer information software to identify the most profitable customers to direct services to is an example of using information systems to: strengthen customer intimacy. Targeting an extremely select group of customers. Accounting questions and answers. Targeting multiple groups of consumers. A. Micro targeting B. Narrowcast marketing C. Focused marketing D. Niche marketing. Group of answer choices Targeting a very select group of customers. low-cost leadership. c. Meeting needs profitability. Niche is a segment of any market with a potential audience looking for an efficient solution against their problem. Viral marketing. Retain "at risk" customers in danger of defecting to a… View the full answer D. Segmentation. Select one: a. niche marketing b. product differentiation c. product mixing d. target marketing . Question. Foreign exchange market is an international market. as any physical good, service or idea that stisfies a want or need. Apple was its own category. a) Niche objectives. d. The major influence on market growth rates is government regulation. A. c) Niche distribution. c. Companies cannot do much to affect a market growth rate. C _____ are characterized by large market share and low prices. Virtual marketing. 5 Market Segmenting, Targeting, and Positioning. 53 Which of the following refers to the combination of the media used and the from MOS 2320 at Western University Targeting an extremely select group of customers. It is a type of market segmentation that allows a company to focus its efforts on a limited segment in the market. eliminate any competition and monopolize the market. b. industrial distribution. Entrepreneurship MCQ Entrepreneurship Chapter 7 _____ refers to the size of the market, whereas _____ refers to the geographic range covered by the market. Select one: a. a marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products. The plateau stage is the break-even level of the market, where the supply of goods meets current market demand. From then on, the challenge is to identify the age group, geographical region, the needs the product will cater to, their social status and related parameters. a. A small target market that purchases high-end goods can still be attractive to an expensive watch company because: A decline in the cost of advertising on radio and newspapers enabling firms to. Product differentiation refers to. d. Targeting multiple groups of consumers. 1. Marketing Q&A Library Which of the following is an example of confusing objectives of market share and shareholder value? B. Multi-segment marketing. D) Focused on a wide range of topics. Mass marketing b. Which of the following refers to niche marketing? Mass Marketing is the type of marketing which refers to selling the same product to all consumers. New product concepts and improvements B. All of the following are considered to be drawbacks of local marketing EXCEPT: a. it can drive up manufacturing and marketing costs by reducing economies of scale. C. Standardized marketing. Description: Viral in literal sense means anything which spreads fast (across users). Why Niche marketing matters. ___ is a market where shares, debentures, bonds etc., of companies, are purchased or sold. create, communicate, capture and deliver superior value and sustained customer satisfaction at a profit. focus on market niche. 2. Niche markets contain small numbers of consumers they tend to be faced by bigger and more frequent swings in consumer spending than larger markets. Which of the following would best benefit the development of niche marketing. All new markets develop at about the same rate. B) Comparable to a niche market in the physical world. A. Differentiated marketing. a. market segments that are large enough in size and affluent enough to warrant special consideration by advertisers. Question 131 pts Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? a. B. To help you determine which digital marketing strategies may work best for your business, here are six of the most effective types of digital marketing: 1. Niche marketing. A. Targeting a very select group of customers. E. Concentrated marketing. O a. Porsche as a niche player and stable profit margins O b. Toyota as the largest car manufacturer and narrowing profit margins O c. Holden has stopped producing cars due to cost pressures O d. d. mass marketing. Content Marketing. It's sizeable enough to be profitable given the operating costs. The other way that producers can participate in niche marketing is to develop a micro-niche of their own. A) Media buy B) Media mix C) Niche media D) Media planning E) Mass media Answer: C M. Niche marketing refers to a marketing strategy in which the focus is on small but profitable market segments. The process of segmenting buyers geographically. Experiential marketing. With the advent of the web, it has become possible to target particular segments of a market with a laser focus approach. On a Thursday morning in early November, the sounds of hockey bounce off the walls inside a fanless rink. c) Harvest objectives. a. While in the past, it was possible through mass marketing and mass advertising to reach a massive audience. Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 1.”If you read the definition closely, you see that there are four activities, or components, of marketing: Good marketing requires one of the following (1) Proper planning (2) Good team work ... 47. 26) Which of the following terms refers to the pattern of decisions and actions that managers take to use core competences to achieve a competitive advantage and outperform competitors? Design an executive summary for the case highlighting all the critical points of the case. Targeting an extremely select group of customers. Health and wellness. Alchemistro Inc. is a firm that manufactures chemical … 96) Shutdown Rate refers to: A rate where one should stop producing because one might incur loss A rate at which one has exceeded the production in relation to the available resources For example, within the market for women’s shoes are many different segments or niches. A firm's marketing mix refers to the combination of: A. goods the firm offers to different market segments B. advertising media the firm utilizes to promote its products C. strategies regarding product, price, place, and promotion D. people directly involved in making marketing decisions D. Niche marketing. This answer has been confirmed as correct and helpful. Market segmentation can be carried out at several different levels. Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market? Targeting an extremely select group of customers ___ is how consumers perceive a product in their minds relative to competition. Which of the following statements is correct? b) Stealth marketing. niche-market. One marketing commentator said, “The idea is not to sell something, but to demonstrate how a brand can enrich a customer’s life.” Which of the following forms of marketing was the commentator describing? b. micromarketing. A niche market is a place within a market segment that represents a narrow group of customers with similar interests. Answer & Solution. B. Multi-segment marketing. One marketing commentator said, “The idea is not to sell something, but to demonstrate how a brand can enrich a customer’s life.” Which of the following forms of marketing was the commentator describing? b. Concentrating the marketing efforts on one particular segment of consumers is known as - Niche Marketing; Ambush Marketing; Cloud Marketing; Content Marketing a. c. logistics management ... c. market demassification. All new markets develop at about the same rate. c. it can attract unwanted competition. While in the past, it was possible through mass marketing and mass advertising to reach a massive audience. Once markets and business cycles are reviewed, companies will develop a product that meets a specific niche in the market. Which of the following is a true statement? Niche Marketing. Definition: Minimum Viable Product or MVP is a development technique in which a new product is introduced in the market with basic features, but enough to get the attention of the consumers. The final product is released in the market only after getting sufficient feedback from the product's initial users. a. d. niche marketing. Direct marketing refers to advertisements targeting the consumer directly. Answer (1 of 3): Apple is not and never has been a niche market. Answer to: 1. Viral marketing refers to a technique in marketing a product or a service where users help in spreading the advertiser's message to other websites or the users create a scenario which can lead to multi-fold growth. See the answer. 1 points. Following are some niche market strategies: 1. b. The global health and wellness market reached a value of $3.31 trillion … A) most marketing managers are overloaded with data and often overwhelmed by it B) most marketing managers are concerned solely about the duplication of content C) companies have ceased to … niche tourism market. Which of the following refers to niche marketing? Such form of confrontations have been termed as _____ • NB: This niche market does not include hunting tourism (e.g. Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? Niche marketing helps create more intimate relationships between the subset you’re targeting and the brand you’ve built.. Positioning ___ typically involves researching a specific market to determine its size and trends. In time, Apple innovated relentlessly, very likely the result of Steve Jobs. A) most marketing managers are overloaded with data and often overwhelmed by it B) most marketing managers are concerned solely about the duplication of content C) companies have ceased to feel the need for … d. The major influence on market growth rates is government regulation. find a market niche, specialize in it and make profits from high margins because consumers in niche markets are willing to pay higher prices. a. 58) Which of the following refers to channels that are focused and generally used to reach narrower segments, often with unique demographic characteristics or interests? Accounting. Back in the day when computer desktops were termed “personal computers, “ this did not apply to Apple. Market: A market refers to the place consisting of buyers and sellers. The development of social media began with simple platforms. See the answer. Avitourism Defined • Avitourism refers to travel outside of one’s usual environment,5 to view birds in their natural habitat. MKT 201 CH. 5. Which of the following WOULD NOT BE among these levels? C. Differentiated marketing. A) focused marketing B) narrowcast marketing C) micro targeting D) niche marketing. Added 10/29/2017 8:30:35 PM. A firm's marketing mix refers to the combination of: strategies regarding product, price, place and promotion. Basically, niche marketing refers to competing within a narrowly defined market segment with a specialized offering. or target markets will be based on the segments that have been identified as having the greatest potential for the business. 96) Shutdown Rate refers to: A rate where one should stop producing because one might incur loss A rate at which one has exceeded the production in relation to the available resources The market share/market growth (BCG) matrix ... A. Improving the quality of life for consumers. Experiential marketing. Declining stages indicate lagging consumer demand for the goods or services supplied by businesses. x refers to a market-coverage strategy in which a firm decides to ignore market segment differences & go after the whole market w/one offer. 10. GeoCities was one of the earliest social networking services, launched in November 1994, followed by Classmates.com in December 1995 and SixDegrees.com in May 1997. Niche marketing. The type of market segmentation that allows a company to focus its … Marketing is the term used to refer only to the sales function within a firm; Marketing managers usually don't get involved in production or distribution decisions; Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole D. Niche marketing. Market growth rates are getting shorter over time. Local marketing c. Niche marketing d. None of the above 24. Avitourism Defined • Avitourism refers to travel outside of one’s usual environment,5 to view birds in their natural habitat. • This definition applies to both domestic and international avitourists in South Africa. Niche definition, an ornamental recess in a wall or the like, usually semicircular in plan and arched, as for a statue or other decorative object. Answer to: Which of the following is a characteristic of niche strategic position? B)Targeting an extremely select group of customers. 7. Principles of Marketing, 15e (Kotler/Armstrong) Chapter 4 Managing Marketing Information to Gain Customer Insights 1) With the recent explosion of information technologies, . This problem has been solved! Content marketing refers to informational, valuable content like blog posts, how-to videos, and other instructional materials. E)The process of segmenting buyers geographically. Niche market is often created by identifying what a customer wants and this can be done if the company knows what the customer needs and then tries to deliver a better solution to a problem which was not presented by other firms. … Market: Market relates to a term used to describe a place where people meet to transact or exchange goods and services. Marketing Management. (True / False) Ans: True. A)Targeting a very select group of customers. Few companies tailor their offerings to meet the needs of different buyers around the world. New answers. In essence, the firm virtually becomes a ‘big fish in a small pond’. a. Niche marketing. A) More involved members who share a common interest. A) buying center B) supply chain ... mass marketing and niche marketing C) vertical mobility and … 6. d) Divest objectives. It enables a marketer to customize offers and, in some cases, products to fit individual needs. b. it can create logistical problems when the company tries to meet varied requirements. 8. jeifunk. c. Companies cannot do much to affect a market growth rate. 117.

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