Which of the following statements is true of a firm's decision to "mass market" a product?
A) This decision considers a market segmentation analysis to be an optional requirement.
B) This decision should be reached only after a market segmentation analysis has been conducted.
C) This decision requires that a company select a target market first.
D) This decision can be reached only after the firm develops the marketing mix.

Question

Quizplus · Accepted Answer

A mass marketing strategy involves targeting a broad group of consumers with a standardized marketing mix. Before making this decision, it is important for a firm to conduct a market segmentation analysis to determine if there are any subgroups within the market that may have different needs, preferences, or characteristics. Only after analyzing the market segments can a firm determine if a mass marketing approach is appropriate.

Which of the Following Statements Is True of a Firm's