Have We Met? LAP

Who can buy a product?

• Anyone

• People who want it

• People that don't have money

• People that have a need and the money

What is a market?

• Anyone who does not have a need for the product

• Anyone who has an unfulfilled desire and is willing to satisfy that desire by purchasing

• A place to buy fruits and vegetables

What does "target market" mean?

• A group of people who have a specific need and are looking for your product.

• A group of people that like to shoot bows and arrows.

• A group of people that don't have a specific need and buy on impulse.

Mass marketing is also called what?

• Group marketing

• Impulse marketing

• Undifferentiated marketing

True or False: If you advertise to everyone, not one specific group, you are doing mass marketing.

• True

• False

True or False: Marketers often divide the total market for their products into smaller, more specific groups or market segments.

• True

• False

When you divide a market according to its physical and social characteristics you are segmenting based on what?

• Geographics

• Demographics

• Psychographics

• Behavioral

Grouping customers according to where they live is using what type of segmentation?

• Behavioral

• Demographic

• Psychographic

• Geographic

When you segment a market based on lifestyle choices it is called?

• Psychographic segmentation

• Demographic segmentation

• Geographic segmentation

• Behavioral segmentation

True or False: There a 4 types of market segmentation.

• True

• False