Marketing Chpt 7 Competition is Everywhere

Each person is a part of only one market segment that influences all of his or her purchase decisions.

• true

• false

Businesses use marketing information and market research to complete market segmentation. 

• true
• false

Dividing consumers into markets based on where they live is referred to as demographic segmentation. 

• true
• false

Market segmentation does not apply to business markets. 

• true
• false

A market opportunity is an identified market with excellent potential based on careful research. 

• true
• false

Target markets should be selected from the segments that have the greatest potential. 

• true
• false

A successful company’s market share should be larger than the market potential. 

• true
• false

__________ directs a company’s marketing mix at a large and heterogeneous group of consumers.

• mass marketing
• advertising
• market segmentation
• market research

People’s interests and values are referred to as 

• demographics
• psychographics
• needs and wants
• personal qualities

An identified market with excellent potential based on careful research is a 

• market opportunity
• target market
• market sement
• mass market