Mass market review

Customers must be ________________ to purchase to be considered part of the market.

• ready, willing, and gullible

• ready, willing, and able

• rich, wanting, and able

• waiting, needing, and able

A specific group of people that is most likely to buy your product, that you want to reach by aiming your marketing efforts, is called:

• randomization

• market groups

• market segmentation

• target market

The process of sorting people into groups who share one or more common or similar characteristics, lumped together for target marketing purposes, is called:

• search engine optimization

• market segmentation

• target market

• marketing mix

When PepsiCo makes many variations of refreshments, they are trying to appeal to:

• an individual person

• market shifts

• the mass market

• different market segments

A person or group who is willing and able to spend money to meet unsatisfied wants or needs is called:

• a market

• a segment

• a baller

• a influencer

What drives companies to research the precise needs of their discerning customers and to pursue market segmentation?

• competition

• technology

• social media

• fame

Mass marketing attempts to appeal to:

• the target market

• the entire market

• individual people

• market sements

• customers who purchases goods or services for personal use:

• consumer market

• industrial market

• market mix

• market segmentation

• businesses who purchase for use in the operation of their business, for resale, or for making other goods

• consumer market

• market segmentation

• industrial market

• market mix

A company’s ________ is its percentage of the total sales volume generated by all companies that compete in a given market.

• buying power

• target market

• market mix

• market share