Target Markets - Chpt 3 Quiz

What is the main difference between mass marketing and target marketing?

• Mass marketing focuses on individual customer needs, while target marketing focuses on the general public.

• Mass marketing aims at a large, broad market, while target marketing aims at specific segments of the market.

• Target marketing uses mass communication channels, while mass marketing uses personalized communication.

• Mass marketing is less expensive than target marketing.

Why is a customer profile important?

• It helps in creating effective mass marketing campaigns.

• It is only used for determining the age distribution of customers.

• It assists businesses in understanding and reaching their target audience more effectively.

• It is a legal requirement for all marketing activities.

What term is used to describe the division of a market into distinct groups of buyers with different needs, characteristics, or behaviors?

• mass market

• market segmentation

• niche market

• psychographic segmentation

Which term refers to a market strategy that focuses on a specific, well-defined segment of the population?

• mass market

• market segmentation

• niche market

• demographic segmentation

What is the term for the statistical characteristics of human populations, such as age or income, used especially to identify markets?

• demographics

• psychographics

• disposable income

• generation

What term describes the amount of money that households have available for spending and saving after income taxes have been accounted for and used for consumer needs?

• demographics

• discretionary income

• disposable income

• psychographics

What is the term for the study of personality, values, opinions, attitudes, interests, and lifestyles?

• demographics

• market segmentation

• geographic segmentation

• psychographics

What is a market in the context of marketing?

• A) A place where goods are manufactured

• B) A collection of various advertising strategies

• C) All the people and organizations that are willing and able to purchase a product

• D) A digital platform for buying and selling

What is a mass market?

• A specific market segment with highly differentiated customer needs.

• A large group of undifferentiated customers who might buy a good or service.

• A small niche market with a very targeted customer base.

• A market where only mass-produced goods are sold.

What is an advantage of mass marketing?

• It targets each customer individually.

• It requires a high level of market research.

• It saves time and money because all people receive the same promotional message.

• It allows for product customization for each customer.