Marketing Activity

Which of the following is a key activity involved in marketing?

• Identifying target market

• Calculating the company's profit margin

• Hiring new employees

• Investing in stocks

What is the main goal of the marketing concept according to the introduction?

• To create the most products

• To satisfy customer needs while meeting organizational goals

• To have the largest market share

• To organize the marketing department

What defines a target market?

• Any group of customers

• The specific group of customers who are not interested in the product

• The specific group of customers who will be particularly interested in your product, who will have access to it, and who can buy it

• All customers in the market

Which of the following best describes a consumer market?

• Buyers who want a product for reselling

• Buyers who want a product for personal use

• Buyers who want the product for use in making other products

• Sellers who are looking to purchase products for their store

What is an industrial market?

• A market where industrial goods are sold directly to consumers

• Buyers who want a product for personal use

• Buyers who want the product for use in making other products

• A market where only industrial companies can purchase products

Which type of market segmentation is based on age, marital status, gender, ethnic background, income, occupation, and education?

• Geographic

• Behavioral

• Psychographic

• Demographic

Geographic market segmentation is based on:

• Customers' interests, values, and lifestyles

• Benefits to customers based on their wants and needs

• Where customers are located and how they can be reached

• Customers' social media activity

Behavioral segmentation describes benefits to customers based on:

• Their geographic location

• Their age and income

• Their wants and needs, how they use the product, and their attitudes toward it

• Their interests and lifestyle

Psychographic segmentation is based on:

• Customers' buying behavior and usage rate

• Customers' interests, values, and lifestyles

• The size and growth of the market

• The physical location of the customer base

What level of loyalty does Starbucks aim for in its behavioral segmentation?

• Occasional loyalty

• 'Hard core' loyalty

• Brand switchers

• No loyalty