National 5 Bus Mgt Marketing - Customers

What is a market?

• Any place where buyers and sellers come together
• A place with lots of stalls in rows
• Where tables are placed displaying goods for sale
• Places to buy fruit and veg each Saturday in towns across the UK

What is marketing?

• A company identifying, anticipating and satisfying the needs and wants of customers
• A company advertising their products and services for sale
• A company carrying out research on customer needs
• When a company promotes itself and tries to beat a competitor

What is NOT a role of marketing department?

• To raise awareness of the product with new customers
• To identify the target market for a new product
• To help identify changes in market demand and tastes
• To ensure that the quality of products are at their highest

What is the name for when a company divides customers into different groups based on their similar wants and needs?

• Market segmentation
• Market splitting
• To help identify changes in Market focus
• Market division

What is NOT an advantage of dividing customers into market segments?

• The company can change their pricing strategy accordingly
• The company can spend their advertising budget more prudently 
• The company can alter their product to meet their specific needs
• The company can sell to the whole mass market which should increase profits

Which target market is being described here.
Grouping customers according to the level of salary brought into household each year.

• Geographical location
• Occupation
• Gender
• Income

Which target market is being described here.
Grouping customers according to whether they are male or female

• Geographical location
• Occupation
• Gender
• Income

Which target market is being described here.
Grouping customers according to where they live in the country/world

• Geographical location
• Occupation
• Gender
• Income

Which target market is being described here.
Grouping customers according to the types of jobs that they perform

• Geographical location
• Occupation
• Gender
• Income

Which target market is being described here.
Grouping customers according to the types of jobs that they perform

• Geographical location
• Occupation
• Gender
• Income