Store Lesson 9 Marketing Planning

Identifying who will buy your products is a key step in ensuring sales for your business.

• True

• False

There are several components of market planning (also known as market intelligence or market research), all of which help a business more closely identify its ______.

• shopping habits

• target market and its product needs

• income

• costs of goods sold

WHY IS MARKET PLANNING IMPORTANT?

• It can tailor its activities to appeal to individuals within that market.

• It can tailor its offerings to appeal to individuals within that market.

• Market planning involves identifying the target market of a business.

• All of the above

_____ involves identifying different groups, or segments, of the population to which a business will direct their products and marketing activities.

• Segmentation

• Taxation

• Market appeal

• Direct Sell

When mass marketing you are trying to market to ______.

• Small group

• Everyone

• Local community

• Specific customers

Think about the marketing evolution of deodorant. Why are marketers moving from mass marketing to segmentation?

• they need to appeal to many different market segments through multiple marketing channels

• the need to appeal to everyone

• they need to spread the word of their product across the world

• they need to meet product demands

A business uses all of the following to help identify its various market segments except?

• Demographics

• Geographies

• Psychographics

• Computergraphics

Behavioral Characteristics are important cues provided through the buying patterns of your customers.

• True

• False

GEOGRAPHICS refer to information pertaining to people's attitudes, values, and lifestyles (political views, beliefs about health and fitness, how one feels about the environment, etc.).

• True

• False

DEMOGRAPHICS refer to the statistics of a population, especially those statistics about

• age

• gender

• martial status

• All of the above