Chapter 11 Research

Market Segmentation is the study of the industry that the firm intends to compete and determine the different potential target market.

• Yes

• No

Market Segmentation consist of how many variables?

• 4

• 5

• 6

• 7

What is a Niche Market?

• A place within a market segment that represents a narrow group of customers with similar interest.

• A place within a market segment that represents a small group of customers with similar interest.

• A place within a market segment that represents a huge group of customers with similar interest.

• A place within a market segment that represents a large group of customers with similar interest.

1. what is a reference account?

• an account a firm uses to refer inside information

• early consumer willing to provide a testimonial on a product

• audited balance sheet and a profit and loss accounts

• pepe the frog

What is the only aspect of marketing mix based on revenue?

• product

• promotion

• place

• price

3. What are the weaknesses of advertising?

• messy and expensive

• ugly and messy

• expensive and excessive

• excessive and ugly

Which of these is not a step in the seven-step sales process?

• Meet objections and concerns

• Select target market

• Make the sales presentation

• Qualify the lead

A referral from an existing customer is a...

• Contact

• Target audience

• Sales prospect

• Qualified lead

Following up with the customer is not an important step in the process.

• False

• True

What should be included in brand equity?

• brand loyalty

• Name recognition

• Perceived quality of products and services

• Level of Performence