Mass and niche markets Guías de estudio, Notas de estudios & Resúmenes

CMN 140 Exam1, CMN 140 Exam 2, CMN 140 Final 194 Questions with Verified Answers "Hardware" vs "Software" of the brain - CORRECT ANSWER *Hardware:* -Biological organ of communication -Computation is processed in gray matter -> e.g. how info is processed in the brain -Info is transmitted via white matter *Software:* -The brain gives rise to the mind -Some programs are innate (e.g. capacity for language) -Some are learned (e.g. English language) *There is a deep physical connecti...

Purposes of marketing - Anticipate demand - Correct Answers Marketing aims to work out what customers might want in the future. Market research is used to ask customers questions about products and services. This helps to predict customers' needs and wants. Recognise demand - Correct Answers Market research can help identify customer needs and wants that are not being met at the moment, and the sort of product or service that might fulfil these needs and wants. Stimulate Demand - Correct A...

networks may be transferred to the designed networks on which so much of modern life depends. The structure of this chapter is as follows. Section 2 describes in more detail the challenging modern manufacturing context within which goods and services are ordered, manufactured and distributed. Section 3 reviews briefly the use of agent-based modelling (ABM) in manufacturing supply networks, before presenting three case studies that illustrate different aspects of agent-based modell...

MARKETING 311 Chapter 2 | Questions and Answers (Complete Solutions) Which of the following is true with regard to strategic planning? A) At the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company. B) A strategic plan deals with a company's short-term goals. C) The focus of strategic planning is to define a game plan for long-run survival and growth. D) The strategic plan is a statement of an organ...

BCOR 2304 Final Exam Questions and Answers Already Passed strategy a set of goal-oriented actions a firm takes to gain and sustain better performance over competitors strategy managment combines analysis, formulation, and implementation in finding competitive advantage mastery= view organization as a whole competitive parity two or more firms perform at the same level strategic positioning position in industry that allows firms to provide value to customers, while controlling costs mission r...

Goal of Customer- Driven marketing strategy - to create VALUE for targeted customers Market Segmentation - Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make any other decisions as...

BADM 535 Exam 1 Study Guide with 100%Verified Answers. Marketing Management Exam 1 Study Guide The task of any business is to ________. A) create customer needs B) differentiate in terms of cost of production C) deliver customer value at a profit D) reduce competition E) communicate similar value as provided by competitors Page: 33 C 2 What is the traditional view of marketing? A) Firms should just focus on production because if the products are good then they will automatically se...

Edexcel A-Level Business Paper 3 QUESTIONS AND ANSWERS LATEST UPDATE market definition anywhere buyers and sellers meet mass market aim and eg aimed at everyone eg. cornflakes pros of mass markets (2) - large market - economies of scale economies of scale definition spread your costs over a large number of units cons of mass markets (2) - more competition - more expensive to operate in niche market definition and eg small subset of the market with specific needs eg. chi...

What are niche markets? Where a business targets a smaller segment of a larger market, where customers have specific needs and wants What are mass markets? Where a business sells into the largest part of the market, where there are many similar products offered by competitors State the features of a mass market Customers form the majority of the market Customers needs and wants are more general and less specific What is economies of scale? Economies of scale mean that a business has lowe...

SPORTS AND ENTERTAINMENT FINAL EXAM LATEST|2024 amateur athlete - Someone who does not get paid to play a sport but plays for enjoyment, challenge, or both awareness - the percent of potential customers in a specific target audience who are aware of a products existence advertising - Any paid form of communication through mass media directed at identified consumers to provide information and influence their actions affinity sports - These are niche markets whose participants are just as ...

Digital Darwinism correct answers Organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction. Disruptive Technology correct answers A new way of doing things that initially does not meet the needs of existing customers sustaining technology correct answers Produces an improved product customers are eager to buy (faster car) paradigm shift correct answers occurs when a new radical form of business enters the market that...