Marketers Must Consider the Advantages and Disadvantages of Each Marketing

question 151

Multiple Choice

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm. You have chosen to market your company's product using a differentiated marketing strategy. What disadvantage will you face?

• A) Your mass marketing approach may put you out of touch with today's consumer.
• B) Your marketing costs will be higher.
• C) Your direct competition may appeal to your very narrow niche market in a similar manner.
• D) Your firm may lose sight of other larger and more profitable markets.
• E) Your mass marketing approach may not appeal to smaller market segments.

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Definitions:

Process Innovations

Improvements or new methods introduced in the production or delivery process of goods and services.

New Product Introductions

The process of bringing a new product to the market, including development, marketing, and commercialization phases.

Existing Product Improvements

Enhancements made to products already available in the market to increase their value, functionality, or appeal to consumers.

Process Innovation

The adoption of a novel or substantially enhanced method for producing or distributing offerings in business processes.