Mass and Niche Markets - GCSE Business Studies

When a product is sold to a large number of customers

• niche market

• small market

• mass market

• large market

When a business sells specific products to a small number of customers

• mass market

• small market

• niche market

• big market

This is an example of

• mass market

• niche market

This is an example of

• niche market

• mass market

What is a niche market?

• A market in which businesses sell to a large customer group with similar needs.

• A market in which businesses sell to a variety of customers.

• A market in which businesses sell to a small customer group with specific needs.

• A market in which businesses sell one product to many consumers.

Mass marketing is about
 

• Aiming a product at one particular segment
• Developing products for different segments
• Going for a global marketing strategy
• Aiming the product at the entire market

Which of the following is not a characteristic of a mass market?

• Smaller quantity of products produced

• Large customer base

• High sales and profits.

• Customer needs and wants are less specific.

Niche marketing is better for ______.

• Small companies

• Bigger companies

• Companies in more than one country.

Advantages of niche marketing:

• Small market do not allow lower average costs of production

• Fewer risk

• Create an image of cheap, low quality product

• create a chance to sell at high prices

What is a mass market?

• When a business sells different products to all consumers and markets them in the same way.

• When a business sells the same products to all consumers and markets them in a different way.

• When a business sells different products to all consumers and markets them in a different way.

• When a business sells the same products to all consumers and markets them in the same way.