Answer to Question 1
Billboard advertising - is perhaps the oldest form of advertising in America, dating back to posters and notices tacked up for the public to read during the Revolutionary War. Today, they can provide wide exposure if they manage to grab attention with minimal text and striking imagery. They often include specialized lighting, moving parts, or rotating digitalized displays. Drawbacks include poor locations, time and effort in finding locations, long or confusing messages, environmental issues, and consumers who don't notice them.
Transit advertising - is similar to billboard advertising and is sometimes used simultaneously. It is popular around the world and is seen in many venues, including on the backs of buildings, in subway tunnels, in terminals, on station platforms, and on the vehicles. Many types of transit ads now use digital signage that creates customized messages for various neighborhoods or times of day. It does well in
building or maintaining brand awareness, and particularly in targeting adults who work in major metropolitan areas, offering repetitive message exposure to commuters. The drawbacks are similar to those for billboards. Includes lengthy or complex messages, media clutter on busy streets and in public transit facilities, and busy or distracted commuters who tune out the ad message.
Answer to Question 2
Niche marketing is based on the premise that smaller is often better when selecting target segments. By definition, large segments are usually established segments that many companies have identified and targeted previously. However, these large segments may be poorly defined. Niche marketing involves identifying and serving a relatively small group of consumers who have a unique set of needs. Typically, these consumers are willing to pay a premium price to the firm that specializes in meeting those needs. The small size of a market niche often means it would not be profitable for more than one organization to serve it. Thus, when a firm identifies and develops products for market niches, the threat of competitors developing imitative products to attack the niches is reduced.
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