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Summary 4.2C - Marketing Planning
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4.2c - Marketing Planning IBM Textbook with ISBN 4
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4.2C: Marketing Planning: Activity1. Differentiate between mass and niche marketing.
Mass marketing focuses on selling ordinary products to a very large number of people or to
the general public. As for niche marketing, they target a more specific and smaller market.
An example of mass marketing would be Coca Cola selling their original coke and beverage
whereas an example of niche marketing would be Coca Cola releasing a diet coke version of
their beverage to appeal to health conscious consumers.
2. Explain how restaurant reviews can provide a restaurant with a unique selling point in a
highly competitive industry.
Restaurant reviews are highly regarded by consumers because reviews are being written or
done by renowned or influential figures. When a reviewer reviews a restaurant and is
satisfied with it, they can publicize the restaurant using statements that may help a
restaurant provide a unique selling point. For instance, if a food reviewer reviews an
authentic Italian restaurant and very much enjoyed their pizza margarita, it will be likely for
the reviewer to say such things like “This restaurant serves the best margarita pizza in
town”. This then help provide a unique selling point to the restaurant, which may give a
competitive edge to other Italian restaurants serving the same type of pizza.
3. To what extent does having a unique selling point in a highly competitive market, such
as the restaurant industry, help a firm achieve its objectives?
Unique selling point is the unique factor of a product that can differentiate them from their
competitors. In this context, the importance for a restaurant industry to have a unique
selling point that can help a firm achieve its objectives is evaluated.
For a restaurant industry, having a unique selling point can differentiate them from their
competitors, giving them a competitive edge. This is definitely beneficial as being different
can attract more of the consumer’s interest whereas offering products without a unique
selling point can open more room for choices for the consumers, which can be
disadvantageous for the restaurant industry. This is because it will then be likely for
customers to choose or favor their competitors and not them, as both industries are
offering products of the same characteristics and features. For instance, if two start up
businesses
Another reason having a unique selling point can be advantageous is because it provides
more value for money to consumers, who will easily be swayed knowing that there is
something unique about a product. Having a unique selling point allows consumers to be
more satisfied for spending their money on a product as it is unique to that certain product
only. For instance, purchasing an expensive laptop with a unique selling point of enhanced
security system which disables any viruses. Though the price may be more expensive than
the competitors’, consumers will more likely be interested and be satisfied due to the
unique feature the product has. This also helps with sustainability as it more easily enables
sales boosts due to the products stronger nature.
However, having a unique selling point may limit a business’ target audience. This is because
when having a unique selling point, a business is promoting their product for having that
uniqueness when compared to other competitors. The unique aspect of their product
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