Marketing - What do you remember?

Which one of these answers includes ONLY examples of demographics?

•   Marital status, religion, ethnicity

• Age, geographical location, gender

• Race, age, hobbies

• Household income, gender, race

______ a specific group of consumers a business wants to reach.

• Niche market

• Target market

•   Concentrated market

• Stock market

_________________ segmentation focuses on a customer’s location.

• Geographic  

• Demographic

• Psychographic

• Behavioral

Identifying your target market makes it easier and more cost-effective to ______.

• Appeal to everyone

• Sell your products to the masses

• Reach your potential customers

• Push away unnecessary customers

A business' target market includes

•   Everyone

• All the people who might use a product or service

• The specific people that the company is aiming to reach with its marketing and sales efforts

•   One segment of the market

Segmentation focuses on characteristics that cannot be measured physically.

• Psychographic

• Demographic

• Behavioral

• Geographic

How companies identify specific groups of customers they feel are most likely to purchase their products?

• Market Research

• Target Market

• Segment Development

• Market Segmentation

Strategies for selecting target markets include all except:

•     Undifferentiated strategy

• Market segmentation strategy

•   Differentiated strategy

• Concentrated strategy