BS Quiz about Marketing, Segmentation, Niche and Mass

the person who buys and uses a product or service

• consumer
• business
• seller
• producer

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.

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.

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.

Chocolate flavoured ice-cream is.........

• A product in a niche market

• A product in both markets

• A product in a mass market

• Very tasty

How is a market segmented by 'location'?

• Products can be aimed specifically at males or females or both
• People have different hobbies and interests, which can be connected to income and location.
• Consumers live in different parts of the country and will have different tastes and needs.  Those living in the city might want a smaller car
• Age groups can be split into categories e.g. 0-10, 11-16 or 18+.  Or even by young and old

Advantages of niche markets?

• Better focus, less competition

• better focus, more competition

• less focus, less competition

• less focus, more competition

What does mass marketing do?

• Unique product made for broad audience

• Targeting audience

• Mass production

• Targeting a broad range of segments

What is the purpose of market segmentation?

• The purpose of market segmentation is to randomly target customers without any research or analysis.

• The purpose of market segmentation is to create a one-size-fits-all marketing strategy.

• The purpose of market segmentation is to better understand and target specific customer segments.

• The purpose of market segmentation is to increase competition among businesses.

A _________ is a small, usually specialised, segment of a much larger market.

• Niche market

• Mass market

• Market share

• Market segment