1.1Meeting customer needs Flashcards
1
Q
Mass market
A
A very large market in which products with mass appeal are targeted
2
Q
Niche market
A
a smaller market usually within a large market
2
Q
Brand name
A
a name, term, sign, or feature that allows consumers to identify the goods and services of a business to differentiate the from those of competitors
3
Q
Benefits of Online Retailing
A
Can market their good to people who prefer to shop at home
Easier to gather personal information from customers
Selling costs such as sales staff can be avoided
Marketing costs will be lowered
Open 24/7
Flexibility
4
Q
Ways of product differentiation
A
Flexible pricing
Recognitions
Extend product range
brand development
Overcome competition
