Chapter 5 & 6 Test

A market is a group of people who as individuals have needs for products in a product class and have the ability, willingness, and authority to purchase products?

• True

• False

One way marketers can segment business markets is according to their geographic location

• True

• False

As a student your school requires you to have a laptop or tablet. You do not have one and realize you have to purchase one. You belong to a

• consumer market

• service market

• business market

• B2B market

A middle school student does not form a market for beach housing properties because they (choose the best answer)

• do not like the beach

• lack the authority to purchase this type of product

• lack the amount of money required to purchase

Marketing BMW vehicles to a targeted group of new drivers ages 16-17 would be a good approach of targeted marketing

• True

• False

Miami, Florida, has a large population of Spanish-speaking residents. Running commercials in both English and Spanish would be a good geographic target market strategy.

• True

• False

Dividing a market into distinct groups of buyers with different needs or behaviors is

• Advertising

• Market Segmentation

• Differentiated Segmentation

• Survey Analysis

Buying Behavior refers to the decision processes and actions of people involved in buying and using products

• True

• False

Dissatisfaction may occor shortly after a purchase, this is called cognitive dissonance

• True

• False

Phillip is in the market to buy new basketball shoes for his first game in two days. His favorite brand is Jordan shoes. When he goes to Foot Locker to buy new shoes he realizes that they do not have Jordan shoes in his size. He sees Puma Lamelo Ball shoes on the shelf and they attract his attention. He remembers that three players on the team wore this brand last season. JT is most likely to purchase the Puma shoes and give those value based on that decsion.

• True

• False