Understanding Market Strategies Quiz

Which of the following is a characteristic of a mass market strategy?

• Targeting a specific, small group of consumers

• Offering a product that appeals to a wide audience

• Customising products for individual customers

• Focusing on a niche market segment

Which of the following is an example of a niche market?

• A supermarket chain

• A luxury watch brand

• A national fast-food restaurant

• A global electronics company

What is a common B2B marketing technique?

• Influencer marketing

• Trade shows and exhibitions

• Flash sales

• Loyalty programmes

Which of the following is a B2C sales approach?

• Personalised email campaigns

• Corporate partnerships

• Supplier negotiations

• Industry conferences

What is the primary goal of customer segmentation strategies?

• To increase production costs

• To identify and target specific groups of consumers

• To reduce the number of products offered

• To expand into international markets

Which of the following is a benefit of targeting a niche market?

• Higher competition

• Lower customer loyalty

• Ability to charge premium prices

• Broader customer base

In a mass market strategy, what is a common method to reach a large audience?

• Direct mail

• Television advertising

• Personal selling

• Niche magazines

Which of the following is a key difference between B2B and B2C marketing?

• B2B focuses on emotional appeal, while B2C focuses on logic

• B2B involves longer sales cycles, while B2C involves shorter sales cycles

• B2B targets individual consumers, while B2C targets businesses

• B2B uses social media more than B2C

What is a common characteristic of products in a mass market?

• Highly specialised

• Limited availability

• Standardised and widely available

• Custom-made

Which of the following is an example of a B2B transaction?

• A customer buying a smartphone from a retail store

• A company purchasing office supplies from a supplier

• A family dining at a restaurant

• An individual subscribing to a streaming service