Module 3 Flashcard BizInnovator

Front

What does target market mean?

Back

the consumers you want to buy your product

Front

Scarlett is starting a new business and believes that her target market can be everyone. Is this true?

Back

False

Front

Which 4 characteristics make up target market? Options: Demographics, Buying Behavior, Hobbies, Age; Age, Income, Gender, Ethnicity; Demographics, Psychographics, Geographics, Location; Demographics, Psychographics, Geographics, Buying Behavior

Back

Demographics, Psychographics, Geographics, Buying Behavior

Front

Which is the most important difference between primary and secondary market research or data?

Back

Primary market research is designed with a specific outcome in mind and is often expensive to collect and analyze. It is collected directly from the source.

Front

What do the letters MVP stand for in Entrepreneurship?

Back

Minimum Viable Product

Front

What are the Four P's of marketing?

Back

Product, Price, Promotion, Place

Front

Which of the 4 P's of marketing pertains to advertising?

Back

Promotion

Front

Which of the 4 P's of marketing deals with financial aspects of your product?

Back

Price

Front

Demographics

Back

Who your customer is, including age, gender, ethnic background, income level, marital status.

Front

Select the best definition for: Psychographics

Back

Why your customers buy, including attitudes and beliefs, lifestyle, interests, hobbies, social status or identify