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What are the four elements of the marketing mix?
The four elements of the marketing mix are product, price, place (distribution), and promotion.
What is a target market?
A target market is a specific group of potential customers that a business aims to reach with its products or services.
Name a product that is typically marketed to a mass audience.
A product like bottled water is typically marketed to a mass audience because it is a basic necessity that appeals to a wide range of people.
What are some disadvantages of targeting a mass market?
Disadvantages of targeting a mass market include intense competition and the challenge of meeting diverse consumer preferences.
Why is it important for businesses to identify their target market?
to tailor their marketing efforts and messages to the needs and preferences of that specific group.
Give an example of a product and its corresponding target market.
An example of a product and its corresponding target market could be luxury sports cars targeti individuals who appreciate high-performance vehicles.
Can a target market change over time? If so, how?
Yes, a target market can change over time due to shifts in consumer preferences, market trends, or changes in the product or service itself.
