mr smith-marketing

Question 1

market definition

Answer 1

refers to all buyers and sellers that trade a particular type of product

Question 2

mass market

Answer 2

-aimed at large group of buyers
-product has wide appeal
-sell to more consumers

Question 3

niche market

Answer 3

-aimed at specific group of buyers
-product is specialised to meet requirements of buyers

Question 4

mass market example

Answer 4

Cadbury for chocolate

Question 5

niche market example

Answer 5

Moo free
vegan chocolate
more specialised

Question 6

dynamic markets