A1 Approaches to Marketing
The size of a business can have an impact as smaller businesses may have closer relationships with their customers and can adapt quickly to changes in their wants and needs.
Marketing budgets can create constraints to marketing as choices on media, personnel and the length of a campaign can be limited. Larger businesses are likely to have larger marketing budgets.
New product development and product innovation may lead to a lot of market research if the business is more market-orientated. However more product-orientated organisations will focus on research and development.
When targeting the mass market, organisations will need to conduct more widespread market research using samples, provide products that cater to less specific wants and needs and use widespread channels of distribution.
When targeting niche markets, organisations can focus on specific segments of the market in their research, create products that cater to specific wants and needs and may use fewer channels of distribution.
