Entrepreneurship 1 3.03 Review

A target market can be described as the 

• direction the market is headed
• group of customers the business seeks to attract
• way a business draws its customers
• sample of the market

Uses the division of a total market into smaller, more specific groups.

• market development

• mass marketing

• consumer market

• market segmentation

Mass marketing is when sellers products and directing marketing activities to appeal to the whole market, which is everyone.

• True

• Fales

An advantage of mass marketing is the audience is very diverse.

• True

• False

An advantage of mass marketing is it can communicate a broad message to as few customers as possible.

• True

• False

___________ is a method used to identify customers with similar wants and needs.

• Selling
• Planning
• Market Segmentation
• Sales pitch

How many market segmentations are there?

• 4

• 8

• 2

• 10

The process of dividing a market of potential customers into groups based on different characteristics is called

• Market Segmentation

• Market Analysis

• Demographics

• Consumer identification

When a business divides its market on the basis of where its customers live is called

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

When a business divides its market on the basis of its physical and social characteristics.

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation