MM51 1.05 Review

What is a target market?

• The identification and selection of specific customers, businesses, or industries for a business or product

• A group of customers identified by their similarities

• Involves designing products that appeal to most buyers

• Designing products for well-defined groups of customers

Mass marketing is

• designing products that appeal to most buyers

• A group of customers identified by their similarities

• Designing products for well-defined groups of customers

• The identification and selection of specific customers, businesses, or industries for a business or product 

Which of the following is true about segment marketing?

• it is the most expensive

• it appeals to everyone

• it is easier to meet specific customer needs

• it is the less costly to produce

it is possible for the same person or business to be included in more than one target market.

• True

• False

Identifying people by their physical and social characteristics is which marketing segmentation?

• Geographic

• Psychographic

• Behavioral

• Demographic

Which marketing segmentation provides marketers with valuable information but it can be very difficult to measure?

• Demographic

• Psychographic

• Behavioral

• Geographic

Behavioral segmentation is identifying what?

• the why, how, and when customers buy

• where a customer lives

• what a customers hobbies are

• what stage of life the customer is in

Targeting customers that live in the Northeast is based on which marketing segmentation?

• Psychographic

• Geographic

• Demographic

• Behavioral

Gathering information like a customer's rate of use of a product, the benefits derived, a loyalty response, and a special occasion are in response to which segmentation?

• Behavioral

• Psychographic

• Demographic

• Geographic

Demographic segmentation is a good starting point for marketers but doesn't provide enough information necessary to make informed decisions.

• True

• False