MM51-1.05 Marketing Study Guide

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Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Liza is a

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market.

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To buy a product, customers in a market must first:

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be willing to buy the product.

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A target market can be described as the

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group of customers the business seeks to attract.

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When examining a market, marketers primarily notice its categories.

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categories

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Marzetti’s Musical Instruments has determined that it will focus its marketing efforts on senior high-school students. Marzetti’s is engaged in _________ marketing.

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target

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The same person can be included in more than one: target market.

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target market.

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When using mass marketing, marketers seek to appeal to the

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entire market.

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When sellers offer one-size-fits-all products that will appeal to most buyers, they are using

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mass marketing

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Market segmentation is about dividing the market into __________ groups.

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specific

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When the total market is divided, one of its groups is called a market

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segment