Which of the following statements describes the advantages of either mass marketing or market segmentation? Select the two correct answers. (1 point) Responses Mass marketing is cost-effective. Mass marketing is cost-effective. Market segmentation is customizable. Market segmentation is customizable. Mass marketing targets a specific audience. Mass marketing targets a specific audience. Market segmentation takes time to implement. Market segmentation takes time to implement. Mass marketing relies on the success of one strategy.
The correct statements are:
1. Market segmentation is customizable.
2. Mass marketing targets a specific audience.
The correct answers are:
1. Mass marketing is cost-effective.
2. Market segmentation is customizable.
To determine the correct answers, we will analyze each statement individually:
1. Mass marketing is cost-effective.
Mass marketing refers to a marketing strategy that targets a wide and diverse audience with a standardized marketing message. This approach can be cost-effective because it maximizes reach and utilizes economies of scale. Therefore, the statement is correct.
2. Market segmentation is customizable.
Market segmentation involves dividing a larger market into smaller, more defined segments based on shared characteristics or needs. By focusing marketing efforts on specific segments, businesses can tailor their messages and offerings to better meet the needs of those segments. This customization is one of the advantages of market segmentation. Therefore, the statement is correct.
3. Mass marketing targets a specific audience.
Mass marketing aims to reach a broad audience rather than targeting specific segments. It seeks to appeal to the masses with a single marketing message. Hence, the statement is incorrect.
4. Market segmentation takes time to implement.
Implementing market segmentation requires research, analysis, and the development of marketing strategies specific to each segment. This process can take time to fully understand and effectively address the needs of different segments. Therefore, the statement is correct.
5. Mass marketing relies on the success of one strategy.
Mass marketing relies on deploying a single strategy or message to a wide-ranging audience without differentiation. Therefore, it is not dependent on the success of one strategy, but rather on reaching a high volume of people. Thus, the statement is incorrect.
Based on the explanations provided, the two correct statements are:
- Mass marketing is cost-effective.
- Market segmentation is customizable.