MM51-1.05 Marketing Study Guide

Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Liza is a

• A.      market segment.
• B.      resource.
• C.      Target group
• D.     market.

To buy a product, customers in a market must first

• A.      locate the product in a store.
• B.      learn the product’s features.
• C.      make sure the product is on sale
• D.     be willing to buy the product.

A target market can be described as the

• A.      sample of the market.
• B.      group of customers the business seeks to attract.
• C.      direction the market is headed.
• D.     way a business draws its customers.

When examining a market, marketers primarily notice its

• A.      records.
• B.      leaders.
• C.      categories
• D.     merchants.

Marzetti’s Musical Instruments has determined that it will focus its marketing efforts on senior high-school students. Marzetti’s is engaged in _________ marketing.

• A.      mass
• B.      risky
• C.      target
• D.     industrial

The same person can be included in more than one

• A.      religion.
• B.      income level.
• C.      generation
• D.     target market.

When using mass marketing, marketers seek to appeal to the

• A.      entire market.
• B.      local market.
• C.      loyal market
• D.     teen market.

When sellers offer one-size-fits-all products that will appeal to most buyers, they are using

• A.      mass production.
• B.      market segmentation.
• C.      mass marketing
• D.     demographic segmentation.

Market segmentation is about dividing the market into __________ groups.

• A.      specific
• B.      identical
• C.      general
• D.     age

When the total market is divided, one of its groups is called a market

• A.      share.
• B.      slice.
• C.      segment
• D.     subdivision.