Intro to Market Research

Which of the following should be looked at when examining competition?

• Products offered and pricing

• Strengths and weaknesses

• Opportunities and threats

• All of these should be looked at

What do we call "subgroups" in marketing?

• Market segments

• Demographics

• Focus groups

A group of people or business with common characteristics or needs.

• Target Market

• Market Segment

• Mass Market

• Micro-Marketing

A specific group of customers at which a company aims its products and services.

• Target Market

• Market Segment

• Micro-Market

• Mass Market

The entire market of potential customers.

• Target Market

• Market Segment

• Micro-Market

• Mass Market

Companies can have both consumers and businesses as their customers.

• True

• False

Age, income, and education level are some of the data collected in a census that are used for demographic segmentation.

• True

• False

Which of the following is not a characteristic of a target market?

• People willing to buying the product

• Enough potential customers to make a profit

• Customers share similar needs

• Businesses willing to lower costs

Different customers buying the same product for different reasons is an example of different benefits sought, which is a factor used in behavioral segmentation.

• True

• False

A person with a high school education may have different needs or wants than someone with a doctoral degree.

• True

• False