SEM Chapter 2 Test

Front

A target market is a _______________ of consumers a business wants to reach.

Back

specific group

Front

About one half of every dollar you spend pays for marketing costs.

Back

True

Front

The customer service gap is the difference between ______________ and the service that is actually received.

Back

customer expectations

Front

Everyone belongs to several different _______________.

Back

target markets

Front

________ purchases take place when individuals make purchases based on careful thought and sound reasoning.

Back

Rational

Front

___________ is the rate at which companies produce goods or services in relation to the amount of materials and number of employees utilized.

Back

Productivity

Front

A market segment is a group of consumers within a larger market who share one or more _______________.

Back

characteristics

Front

____________ segmentation focus on characteristics that cannot be measured physically, such as values, interests, and lifestyle choices.

Back

Psychographics

Front

____________ segmentation focuses on a customer’s attitude toward products and services.

Back

Behavioral-based

Front

Retailers have a limited budget and have to submit purchase orders for merchandise at least a year in advance, so they must develop a buying plan based on projected market expectations.

Back

False