Home › BBA Marketing › Marketing › Creating Products and Pricing Strategies › How many marketing mixes does a firm need when i…
How many marketing mixes does a firm need when it serves several target markets?
AOne mix, applied without change to every target market
BOne mix for goods and one separate mix for services
CA separate mix tailored to each target market served
DA separate mix for each country in which it operates
Answer & Solution
Correct answer: C. A separate mix tailored to each target market served
1. A marketing mix is built once the target market and the competitive advantage are known.
2. Every target market requires a unique mix that suits the needs of those customers.
3. The mix must also meet the goals of the firm, which differ by market served.
4. A single mix for everyone ignores those differences, so it fails the requirement.
5. The split is by target market rather than by goods against services or by country.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.3 Developing a Marketing Mix_
Related questions
Big data and analytics are used to provide consumers with which two things?Big data refers to which of the following?Database marketing is sometimes given which other name?What does the information in a marketing database help managers do?One-to-one marketing means creating what?What are shopbots?How does online technology help sellers rather than buyers?What effect has the internet had on pricing power?