CH 5 & CH 10 Review

A SWOT analysis is designed to help a company determine its

• 1. sales, wages, overhead, and target

• 1. sales, wages, occupations, and trends

• 1. strengths, weaknesses, opportunities, and threats

• 1. strengths, weaknesses, overhead, and trends

Geographic segmentation is based on

• 1. customers’ lifestyles

• 1. customers’ decision-making process

• 1. how much the customers earn

• 1. where the customers live

A detailed description of customers based on demographic, geographic, psychographic, and behavioral information is gathered to create a

• customer profile

• 1. target market

• market segment

• 1. SWOT analysis

A target market is made up of

• 1. retail stores in the domestic market

• 1. buyers in the foreign market

• 1. a group of customers

• 1. employees in the marketing department

All of the following items are psychographic segmentation variables except

• activities

• 1. occupations

• 1. attitudes

• 1. values

Secondary data are

• data collected by you or your organization

• data that has already been collected by someone else

• 1. data that are more than five years old

• data that have no relevance to your organization

Data mining involves uncovering patterns or trends by

• 1. developing a research plan

• studying the competition

• 1. analyzing information

• 1. stating a hypothesis

Which of the following questions would be least useful for defining the problem of starting a profitable business?

• 1. Where should I locate the business?

• Which goods or services should I sell?

• 1. What are the demographics of the potential customers?

• What computers should I buy to use for the business?

1. An organized study in which all the participants are asked the same questions is a _____.

• survey

• study

• journal

• research plan

1. The processes of collecting, analyzing, and reporting market research information make up a _____.

• 1. marketing information system

• 1. market segmentation

• 1. competitive analysis

• 1. mass market