Discussion Question 2023 Business Finance
2023 PLEASE USE THE ATTACHED RESOURCES PLEASE MAKE SURE YOU PROOF READ BEFORE SUBMITTING TOPIC 3 Mass Marketed Products If you
PLEASE USE THE ATTACHED RESOURCES.
PLEASE MAKE SURE YOU PROOF READ BEFORE SUBMITTING!
TOPIC 3: Mass-Marketed Products
If you have a market that is large and homogenous, then you can be a mass marketer and there will be no need to segment the market. One example discussed in our learning material for this week is salt.
- Let’s discuss the marketing of salt. Salt was long marketed as one product for anyone who wants it for the need to season food, which is a universal need. Is this still true? Do you consider salt to be a mass market product? Why or why not?
- Can you think of another mass-marketed product? What is it and why do you think it is mass marketed?
TOPIC 4: Repositioning
Mature products sometimes need to be repositioned. Finding a new need for an existing product is usually a reason for repositioning. Many years ago, Arm & Hammer baking soda found a new market by repositioning the product for those wanting a clean-smelling refrigerator. The company did a similar repositioning when offering the product as a teeth whitener.
- Can you think of an existing product that has been repositioned by finding a new market with a different need than the original product? What is the product and how was it formerly targeted? What is the new target market and strategy?
- Or, can you think of a mature product that is ripe for repositioning? What ideas do you have for a new market for this product?
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