Marketing Course Review

Which of the following best describes a target market?

• Close competitors of a business
• The people who buy a business's products
• Groups that do not buy a business's products
• The individuals at whom a business's marketing strategies are aimed

Which of the following best describes market segmentation?

• Dividing a large market into a smaller sub-market
• Selling goods for less than their production cost to maximise sales
• Maintaining long-term ties with customers to encourage repeat sales
• Identifying the consumer groups most likely to buy a business's products

Which market segmentation method is selected when classifications of age, gender, income, or family size is utilized.

• Behaviorial
• Psychographic
• Demographic
• Geographic

Brandon lives in the hot Nevada desert where extreme weather conditions dictate what types of products he purchases. Which method would marketers be conscious of when promoting their merchandise in the region where Brandon lives?

• Behaviorial
• Psychographic
• Demographic
• Geographic 

Which phase of the Product life cycle is a downward turn in sales leading to the demise of a product.

• Introduction
• Growth
• Maturity
• Decline

Define Promotion

• Any from of communication a business or organization uses to inform, persuade, or remind.
• The number of different product lines a manufactures or sells
• The process of creating, growing, and manufacturing

What does the owner of a miniature golf business provide her customers with?
a)   b)   c)   

• A service
• A promotion
• A good
• An exchange

Tangible products that we use to satisfy our wants and needs

• Goods
• Services
• Marketing
• Tangible

How/where a product will be distributed

• Price
• Place
• Promotion
• Product

THE 4 P's - product, place, promotion, price

• price
• selling
• target market
• Marketing mix