Marketing Quiz

What is the practice of dividing your target market into approachable groups called?

• Target Market

• Market Segmentation

• Demographics

• SWOT analysis

Which term refers to a specific group of potential customers that a business aims to reach with its products or services?

• Market Share

• Gross Domestic Product

• Target Market

• Business Cycle

What does the term 'Demographics' refer to?

What is SWOT analysis used for?

• Dividing the target market into groups

• Identifying and analyzing internal strengths and weaknesses and external opportunities and threats

• Measuring the amount of product made in a country

• Understanding the characteristics of a population

What does 'Market Share' refer to?

• The amount of goods and services available for people to buy

• The percent of total sales in an industry generated by a particular company

• The amount of product made in the United States during a one-year period

• The various characteristics of a population

What is Gross Domestic Product (GDP)?

• The amount of product made in the United States during a one-year period

• The percent of total sales in an industry generated by a particular company

• The amount of goods and services available for people to buy

• A method for identifying and analyzing internal strengths and weaknesses

What does the Business Cycle consist of?

• Growth, peak, recession, trough

• Age, income, gender, educational level

• Internal strengths and weaknesses

• The amount of product made in a country

What does 'Supply and Demand' refer to?

• The amount of product made in a country

• The amount of goods and services available for people to buy compared to the amount of goods and services that people want to buy

• The percent of total sales in an industry generated by a particular company

• The various characteristics of a population

What is a free enterprise system?

• An economy where the government determines prices, products, and services.

• An economy where the market determines prices, products, and services.

• An economy where prices, products, and services are determined by international trade.

• An economy where prices, products, and services are determined by monopolies.

What does distribution refer to?

• The process of creating a distinct identity for a business.

• The way something is spread out or arranged over a geographic area.

• The display of labels in a product that provides product information.

• The means of communication in which a product is promoted.