Marketing Chp 8

Which of the following is NOT one of the characteristics of a market?

• Must be composed of people or organizations

• Not looking to buy

• Have the ability to buy

• Have wants and need

Companies use this method to segment the market by the amount of time people use your products/company

• Ethnic

• Market

• Gender

• Usage Rate

The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups

• Target Market

• Market Segmentation

• Marketing

• Market Breakdown

Segmenting the market based on gender

• Income Segmentation

• Age Segmentation

• Gender Segmentation

• Ethnic Segmentation

Segmenting markets by age, gender, income, ethnic background, and family life cycle

• Geographic Segmentation

• Demographic Segmentation

• Income Segmentation

• Family Life-Cycle Segmentation

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs

• Market Segment

• Age Segmentation

• Income Segmentation

• Demographic Segmentation

Segmenting markets by region of a country or the world, market size, market density, or climate

• Age Segmentation

• Usage Rate Segmentation

• Geographic Segmentation

• Ethnic Segmentation

Segmenting a market based on the stages of life within the household is called

• Gender Segmentation

• Ethnic Segmentation

• Benefit Segmentation

• Family Life Cycle Segmentation

All powder laundry detergent is packaged in small 2 oz. packets so it will be more affordable for low-income consumers. All detergent convenience packets are small enough to be sold in vending machines to make them handy for students on a tight budget living on campus. This is an example of _______.

• Income Segmentation

• Age Segmentation

• Gender Segmentation

• Ethnic Segmentation

The key tool in the marketing strategy of every successful organization for reaching the targeted customer is _______.

• 80/20 Principal

• Improving marketing premises

• market segmentation

• market criteria