Dividing the total market into smaller, more defined categories is called…

Mass marketing is the process of appealing to a small group rather than targeting an entire market.

________________ is common with companies like Target or Walmart. It is also often used for necessities (products that are required to function).

These are good examples of commonly mass marketed goods:

The four types of market segmentation are:

Statistics that describe a population in terms of personal characteristics such as occupation, ethnicity, income, gender and age are part of which type of market segmentation:

If Beats headphones intentionally marketed to millennials and Gen Z, this would be an example of what type of marketing segmentation.

This type of marketing segmentation takes into account the grouping of people based on their priorities, opinions, activities, lifestyles, attitudes, among others:

Under Armour marketing to healthy, active people that are dedicated to training and staying in shape is an example of what kind of marketing segmentation?

Segmentation of the market based on where people live is what type of market segmentation?

Geographic segmentation requires marketers to think about whether they will sell their product/service locally, regionally, nationally and/or globally.

Separating the market based on product-related behavior is called ________________ .

When we look at spending habits such as how frequently someone buys a product and whether or not they are frugal or frivolous (careful with their spending or carefree), we are using what type of segmentation:

One of the aspects marketers look at when pricing a product or service is income measurement. The two types we discussed are:

Marketers who sell luxury products are taking into consideration which type of income:

The SWOT analysis is an administrative tool that's used in marketing to help develop strategies for growth, and it has four key aspects: strengths, weaknesses, organizations, and threats.

Strengths and weaknesses from the SWOT analysis refer to _____________ aspects.

The following questions are examples of questions a company may use to fill out the ________________ box of a SWOT analysis:

What trends could you take advantage of?

How can you turn your strengths into opportunities?

If a new company does a SWOT analysis and comes up with the following results for one of the boxes:

• Our company has little market presence or reputation
• We have a small staff with a shallow skills base in many areas

Which part of the SWOT do you think they were filling out?

A formal, written document that directs a company’s activities for a specific period of time is called a ___________________.

It details analysis and research efforts and provides a road map for how a product will enter the market, be advertised and sold.

The marketing plan may be simple or complex.

A SWOT analysis is rarely ever used when developing a marketing plan.

[Select each box that applies].

A marketing plan communicates...

The marketing plan includes a section on evaluating the activities that have been outlined.