Entrep Summative Test Week 3

Demographics describe statistical characteristics such as age or income used in market identification.

• TRUE
• False

Intangible products like education or massage are examples of consumer goods.

• TRUE
• False

Shopping products require little to no effort in making a purchase decision.

• TRUE
• False

The target market focuses on customer demand drivers in a specific segment.

• TRUE
• False

Raw materials are examples of industrial products used in manufacturing.

• TRUE
• False

The type of product that emphasizes intangible benefits like branding or service.

This refers to a service that cannot be displayed or inspected before purchase.

A segment of industrial products that are expensive and used in production, but not part of the final product.

A product that is consumed quickly and usually inexpensive, like food or toiletries.

A factor that limits entry into a market due to cost or legal constraints.