Explain the concept of mass marketing
What will be an ideal response?
In mass marketing, the firm ignores segment differences and goes after the whole market with one offer. It designs a marketing program for a product with a superior image that can be sold to the broadest number of buyers via mass distribution and mass communications.
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From the perspective of producers, damage awards ________
a) facilitates the estimation of the ex post consequences of the producers' ex ante decisions b) are difficult to predict c) act as prime deterrents to insurance companies that disallow producers to insure against that risk d) are highly predictable
Stanford University medical researchers conducted a study on the correlation between the use of fertility drugs and ovarian cancer. Their study, published in the American Journal of Epidemiology, concludes that the use of the fertility drugs, Pergonal
and Serophene, may increase the risk of ovarian cancer by three times. The lead author of the studies, Professor Alice Whittemore, stated, "Our finding in regard to fertility drugs is by no means certain. It is based on very small numbers and is really very tenuous." FDA Commissioner David Kessler would like the infertility drug manufacturers to disclose the study findings and offer a warning on the drug packages. He notes, "Even though the epidemiology study is still preliminary, women have a right to know what is known. We're not looking to make more of this than there is." If you were a manufacturer of one of the drugs, would you voluntarily disclose the study information?