Unit 4: Market Planning

___________ helps a business more closely identify its target market and its product needs.

• Market Planning

• Product Service Management

• Financial Analysis

• Distribution Channels

___________ involves identifying different groups or segments of the population to which a business will direct their products and marketing activities.

• Distribution

• Selling

• Segmentation

• Promotion

Segmentation is more beneficial to businesses than mass marketing.

• True

• False

The benefit of Market Segmentation is ....

• Higher Rate of Success

• Increases Profitability

• Increases Competitiveness

• Retention of Customer

• All of the above

Businesses segment a market through...

• Demographics

• Geographics

• Psychographics

• Behavioral characteristics

• All of the above

The statistical characteristics of human populations (such as age, race, gender, education, or annual income) used especially to identify markets are called ____________.

• Geographics

• Demographics

• Pscyhographics

• Behavioral Characteristics

A large sporting good chain segmenting its market based on the climate in its various region utilizes which type of segmentation strategy?

• Demographics

• Geographics

• Psychographics

• Behavioral Characteristics

___________ refers to information regarding a persons beliefs, interests, attitudes, values and lifestyles.

• Demographics

• Geographics

• Psychographics

• Behavioral Characteristics

Important cues provided through the buying patterns of your customers is an example of segmentation by _____________________.

• Demographics

• Geographics

• Psychographics

• Behavioral Characteristics

Social Media marketiing makes it much harder to utilize segmentation strategies.

• True

• False