Stukent Ch. 4 Activity

Companies who properly identify and market to their target audience will increase their annual growth by 200 percent

• True

• False

Which of the following terms are approaches used in market segmentation

• concentration

• analytic

• multi-segment

• predictive

You can use the same marketing mix for all market segments

• True

• False

Which is NOT true of the concentration method?

• lower marketing costs

• Higher potential returns

• good for new businesses

• higher potential for growth

Which is NOT true of the multiple segment method?

• requires more time to identify segments

• higher sales and profit potential

• it's cheaper to implement

• requires multiple marketing mixes

Which of the following is not one of the seven major types of market segmentation?

• Purchasing patterns

• psychographics

• demographics

• benefits

• All are correct

Which of the following divides customers by buying habits.

• Purchasing patterns

• psychographics

• demographics

• benefits

• All are correct

psychographic segmentation takes data like geography and demographics and then includes even more purchasing factors like values lifestyle and social class.

• True

• False

When selecting your target market, you must consider following factors, 1) how you can measure success, 2) What access you have to the market, 3) If you can maintain your marketing efforts, and 4)

• Where your market fits in the buying process

• What your customers' preferences are

• Where your market is located

• Why your market wants the product

You need to get your product in front of your market a minimum of _____ times within a 18-month period for optimum market penetration and customer conversion.

• Nine

• Three

• Six

• Seven