What is the difference between a mass market and a market segment?
What will be an ideal response?
A mass market consists of all possible customers in a market regardless of their differences, while a market segment is a smaller group of customers within the mass market who are similar to each other in one or some ways and different from the others in the mass market.
You might also like to view...
You want to know whether selling and administrative expenses were reasonable for the past year, based on the level of sales. The best analysis for obtaining this information is:
a. trend analysis b. vertical analysis c. horizontal analysis d. liquidity analysis
What should a firm consider if it is in a nonhomogeneous market and a competitor lowers its prices?
What will be an ideal response?
Spoiled units are
a. The same as defective units. b. Units that can be economically reworked to bring them up to standard. c. Considered abnormal losses. d. Units that cannot be economically reworked to bring them up to standard.
The best locations in a store are generally end-aisle display positions, eye-level positions, and checkout-counter positions
Indicate whether the statement is true or false