Unit 9 Personal Finance Quiz

A specific group of customers most likely to buy a product or service is called:

• demographic segment

• geographic segment

• behavioral segment

• target market

Jimmy’s skateboard shop uses social media ads to appeal to boys, age 13-18. This is an example of:

• target and geographic marketing

• mass and demographic marketing

• target and demographic marketing

• target and behavioral marketing

The process of sorting people into groups sharing common characteristics for marketing is called:

• market segmentation

• search engine optimization

• physical and social characteristics

• marketing mix

Segmenting groups by gender and age, e.g., females 15-18, is an example of:

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

Sorting customers based on lifestyles, interests, and values is:

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

The rivalry between companies selling similar products/services is called:

• geographic segmentation

• competition

• psychographic segmentation

• behavioral segmentation

The ultimate purpose of a company’s marketing strategy is to:

• achieve its goals

• redesign the brand

• develop sales tactics

• create financial stability

A plan designed to achieve goals and objectives is a:

• vision

• tactic

• strategy

• milestone

Something with an observable measurable result to be achieved in a time frame is a:

• product

• strategy

• business plan

• goal

A good example of the place component of marketing mix is:

• establishing discounts

• Facebook ads

• 3D prototyping

• selecting value-added resellers