Target Market

Sorting customers by their physical and social characteristics is called ______ segmentation.

• behavioral
• statistical
• psychographic
• demographic

A target market can be described as the 

• direction the market is headed
• group of customers the business seeks to attract
• way a business draws its customers
• sample of the market

To buy a product, customers in a market must first

• be willing to buy the product
• locate the product in a store
• learn the product's features
• make sure the product is on sale

A small number of consumers expressing opinions about a new product or service in a group discussion is a 

• target market
• focus group
• survey group
• experimental group

Market research can collect data

• only from primary sources.
• only from secondary sources
• from both primary and secondary sources.
• any of the above

Which of the following is most likely to provide a business with primary market research?

• A television show
• A customer survey
• A newspaper article
• An Australian Bureau of Statistics Publication

Finding solutions to problems through carefully designed studies involving customers.

• Product
• Services
• Marketing research
• Marketing

 What are market researchers able to do to determine the situation?

• They can define the problem + see what the opportunities are
• Recognize the alternatives
• Find out what information is needed to resolve the situation
• all of the above

What is VITAL to the market research process? 

• getting usable information 
• implementing the solution 
• figuring out what to eat for lunch
• making money

 Can you skip a step in the market research process?

• yes; who cares just wing it right?
• no; every step is vital for beneficial answers