Chapter 5 Quiz

A SWOT analysis is designed to help a company determine its

• sales, wages, overhead, target

• sales, wages, occupations, trends

• strengths, weaknesses, opportunities, and threats

• strengths, weaknesses, overhead, and trends

Geographic Segmentation is based on

• customers' lifestyles.

• customers' decision-making process.

• how much the customers earn.

• where the customers live.

A detailed description of customers based on demographic, geographic, pscychographic, and behavioral information is gathered to create a

• customer profile

• target market

• market segment

• SWOT analysis

A target market is made up of

• retail stores in the domestic market.

• buyers in the foreign market.

• a group of customers.

• employees in the marketing department.

All of the following items are psychographic segmentation variables except

• activities

• occupations

• attitudes

• values

Which of the following questions would be least useful for defining the problem of starting a profitable business?

• Where should I locate the business?

• What products or services should I sell?

• What are the demographics of the potential customers?

• What color should I paint the office walls?

One type of competitive advantage is a special feature of your product that is not offered by the products of your competitors.

• True

• False

Marital status is a factor that is considered in demographic segmentation.

• True

• False

Benefits are reasons a product will make customers' lives better.

• True

• False

Competitive Analysis is another term for SWOT analysis.

• True

• False