Marketing Fundamentals Pre-Course Survey

The marketing concept is the idea that a business should strive to ___ a customer's needs and wants while generating a ___ for the business. 

• satisfy, profit
• satisfy, product
• exceed, income
• satisfy, service

The goal of market segmentation is to identify the group of people most likely to become customers. 

• target market
• market segmentation
• marketing mix
• market share

Breaking down the market into smaller groups that have similar characteristics.

• market segmentation
• target market
• marketing mix
• market share

Refer to statistics that describe a population in terms of personal characteristics i.e. age, gender, income, occupation, education.

• demographics
• psychographics
• geographics
• behavioral characteristics

Refer to where people live i.e. local, state, region, climate, time zone, language.

• psychographics
• demographics
• geographics
• behavioral characteristics

Refer to people with similar attitudes, interests, opinions, lifestyles, shared values i.e. healthy lifestyle, cares about environment.

• geographics
• psychographics
• demographics
• behavioral characteristics

Refer to purchasing related behaviors i.e. loyal customer, shopping patterns.

• behavioral characteristics
• psychographics
• demographics
• geographics

Knowing the percentage of total sales volume generated by all companies helps to analyze competition as well as status in a given market. 

• market share
• target market
• market segmentation
• marketing mix

The 4 P's, a strategy to communicate with the target market.

• marketing mix
• target market
• market segmentation
• market share

Choosing what products to make and sell.

• product of 4Ps
• price of 4Ps
• place of 4Ps
• promotion of 4Ps