Entrepreneurship Chapter 4

The process of dividing a market of potential customers into groups based on different characteristics is called

• Market Segmentation

• Market Analysis

• Demographics

• Consumer identification

The term "Demographics" refers to

• Grouping potential customers based on their beliefs and preferences

• Grouping potential customers based on whether or not they have purchased a product in the past

• Grouping potential customers using statistical data such as age, race and gender

• Grouping potential customers based on where they live

Which of these is NOT a Demographic characteristic, or a statistical way of grouping people that is tracked in the US Census?

• Age

• Household Income

• Race

• Political preference

Segmenting a market based on customers' attitudes, opinions, and interests is called

• Demographics

• Psychographics

• Geographics

• Market Segmentation

Which of these answer includes ONLY examples of psychographics?

• Interests, opinions, attitudes

• Household income, beliefs, race

• Age, geographical location, gender

• Ethnicity, age, hobbies

Demographics includes grouping customers based on which three of these characteristics?

• Marital status

• Gender

• Ethnicity

• Buying habits

Targeting a group of potential consumers using psychographic characteristics might include using data about

• music preferences

• race

• age

• gender

A description of a customer or set of customers that includes demographic, geographic, and psychographic characteristics, as well as buying patterns, is called a

• Market segment

• Target market

• Demographic breakdown

• Customer Profile

Customer Analysis(surveys) are a great source to study a customers buying habits.

• TRUE
• FALSE

The change in climate of the city, where a product is being sold will affect the __________region of the marketing plan.

• Geographic
• Demographic
• Psychographic
• Telepathic