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26 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What is the definition of a Niche Market. |
It is when a product is aimed at a small group of people. Eg Rock climbing shoes |
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What is the definition of Mass Market. |
It is when I product is aimed at a wide range of People. Eg Coca Cola |
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What is the definition of Target Marketing. |
It is when a product is aimed at a certain business or people. Eg Children |
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What is the definition of Market Oriented Marketing |
It is when a business focuses on the the customers need to make the product. Eg I phone |
Think of the name marketing it also means customers. |
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What is the definition of Product Orientated marketing. |
It is when a business focuses on making the product a high quality product. Eg Dyson |
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What is the definition of Marketing. |
Is when a product it being promoted or advertised. Promotion is when awareness of the product is raised. This also helps to raise a profit. |
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What is the definition of Marketing. |
Is when a product it being promoted or advertised. Promotion is when awareness of the product is raised. This also helps to raise a profit. |
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The advantages of Niche Marketing. |
Brand loyalty- this leads to future customers. Less competition. Good understanding of customers. |
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The disadvantage of Niche Marketing |
A very small market. Expensive to advertise. Not suitable for long term marketing. More stress. |
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The advantages of Target Marketing. |
Cost effective because your only targeting the customers you want to buy your product. Leads to customer loyalty. Messages can be tailored to the correct target audience. |
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The disadvantage of Niche Marketing |
A very small market. Expensive to advertise. Not suitable for long term marketing. More stress. |
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The advantages of Target Marketing. |
Cost effective because your only targeting the customers you want to buy your product. Leads to customer loyalty. Messages can be tailored to the correct target audience. |
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The Disadvantages of Target Marketing. |
Time consuming. Very expensive. You miss other potential customers. |
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The disadvantage of Niche Marketing |
A very small market. Expensive to advertise. Not suitable for long term marketing. More stress. |
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The advantages of Target Marketing. |
Cost effective because your only targeting the customers you want to buy your product. Leads to customer loyalty. Messages can be tailored to the correct target audience. |
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The Disadvantages of Target Marketing. |
Time consuming. Very expensive. You miss other potential customers. |
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The advantages of Product Orientated Marketing. |
Focuses on the customers needs. The customers have a high quality product. |
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The disadvantages of Product Orientated Marketing. |
Doesn't meet the customers needs. Less brand loyalty. |
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The disadvantages of Product Orientated Marketing. |
Doesn't meet the customers needs. Less brand loyalty. |
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The advantages of Mass Marketing. |
Easier to manage. Variety of ways to advertise. Business grows quickly. Attracts a wider target of customers. Less stressful. |
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The disadvantages of Mass marketing. |
Very expensive. You have to be well known. Not everyone will be interested. Big competition from other business. |
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The advantages of Market Orientated Marketing. |
Focuses on the needs of the customers. Brand loyalty - this leads to future customer. Have more customers. |
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The disadvantages of Market Orientated Marketing. |
The customers might not have a quality product. - this could lead to loss of customers. |
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Why is Marketing so important. |
Creates reputation. Creates awareness of the brand. Might make a load of money. Build customers. Advertises the product of the business. Persuades customers to buy your product. |
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Why is Marketing so important. |
Creates reputation. Creates awareness of the brand. Might make a load of money. Build customers. Advertises the product of the business. Persuades customers to buy your product. |
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What could happen if you use bad Marketing. |
Bad reputation. Damages the brand. Lose of customers = to lose of sales. Stands out negatively. Bankruptcy. |
Think of the advertisement RedBull. |
