TIM Unit 3: Marketing Test Review

Marketing, put simply, attempts to do which of the following?

• Get people to buy things they do not need

• Make people love spending money

• Hide any flaw a product or service has

• Satisfy people’s needs

The term ______________ is used to describe all potential customers who have the desire and ability to purchase a business’s products.

Market is also used to describe ___________ customers and potential customers are physically located.

_____________ is the process of developing, promoting, and distributing products or services to satisfy customers’ needs and wants.

• selling

• marketing

• pricing

• advertising

The marketing _________ means that a business focuses on satisfying customer _______ and _______ while making a ___________.

• plan, questions, complaints, profit

• plan, needs, wants, decision

• concept, needs, wants, profit

• concept, ideas, values, milkshake

The _________ _________ is a specific group of consumers an organization selects as the focus of its marketing plan and is specific group of people they want to reach.

• target market

• focus group

• market segmentation

• test group

The division of a total market into smaller, more specific groups is known as....

• target market

• market groups

• focus groups

• market segmentation

The value of market segmentation is that it allows businesses to customize their product offerings and their marketing strategies.

• true

• false

The four ways to segment a market are:

• behavioral, geographic, biographic, demographic

• geographic, demographic, psychographic, behavioral

• geographic, biographic, behavioral, micrographic

• demographic, psychographic, behavioral, photographic

The division of a market on the basis of where consumers are located.

• geopraphic

• behavioral

• demographic

• biographic