Quiz in Marketing

In effective target market, marketers should focus on:

• Market Segmentation

• Market Targeting

• Market Positioning

• All of the Above

_____ segmentation calls for dividing the market into groups based on age, family,

size, family life cycle, gender, income, etc.

• Geographic

• Demographic

• Behavioral

• Intuitive

• Psychographic

In _____ segmentation, buyers are divided into groups on the basis of their

knowledge of, attitude toward, use of, or response to a product.

• Geographic

• Demographic

• Behavioral

• Intuitive

• Psychographic

Customers in a market segment should be very similar in both their segment dimensions and their likely response to a marketing mix.

• Homogeneous

• Heterogeneous

• Economic Upside

• Operational

The segment dimensions should be helpful for understanding & identifying customers and making decisions regarding the marketing mix.

• Homogeneous

• Heterogeneous

• Economic Upside

• Operational

It is a market of customers with generally similar needs, which organizations satisfy in a variety of ways

The effort to increase sales by selling current products into new markets. Firms may advertise to reach new target customers within a geographic region, or look to international markets for expansion.

Refers to offering new or improved products to present markets.

It is a developing a theme which will provide a “meaningful distinction for customers”.

It is a two-step process of: naming broad product markets, and segmenting those markets in order to select target markets.