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WorksheetsMarket Identification
Total questions: 20
Worksheet time: 10mins
The process of dividing a market of potential customers into groups based on different characteristics is called
Market Segmentation
Market Analysis
Demographics
Consumer identification
The term "Demographics" refers to
Grouping potential customers based on their beliefs and preferences
Grouping potential customers based on whether or not they have purchased a product in the past
Grouping potential customers using statistical data such as age, race and gender
Grouping potential customers based on where they live
Which of these answer includes ONLY examples of demographics?
Marital status, religion, ethnicity
Household income, gender, race
Age, geographical location, gender
Race, age, hobbies
Segmenting a market based on customers' attitudes, opinions, and interests is called
Demographics
Psychographics
Geographics
Market Segmentation
Which of these answer includes ONLY examples of psychographics?
Interests, opinions, attitudes
Household income, beliefs, race
Age, geographical location, gender
Ethnicity, age, hobbies
When a business divides its market on the basis of where its customers live is called
geographic segmentation
demographic segmentation
psychographic segmentation
behavioral segmentation
Segmenting a market based on customers' buying habits is an example of
demographic segmentation
psychographic segmentation
behavioral segmentation
geographic segmentation
Targeting a group of potential consumers using psychographic characteristics might include using data about
music preferences
race
age
gender
A business' target market includes
Everyone
All the people who might use a product or service
The specific people that the company is aiming to reach with its marketing and sales efforts
One segment of the market
Which of the following groups would NOT be included in a saddle-making business' target market?
Horses
Horse owners
Horseback riding teachers
Horse trainers
The particular market segment at which a business aims its products is known as the:
Target Market
Unique Selling Point
Main Market
Market Leader
Which of the following is an advantage of using market segmentation?
It allows a business to charge higher prices
It lets a business invest more in plant and machinery
It saves business money by avoiding the need for TV advertising
It allows a business to target its promotional strategy more effectively.
Traditionally, mass marketing of a consumer product results in:
the largest potential market for that product
increased product prices due to the lack of differentiation and decreased competition
easier channel selections
fewer competitors because there are fewer markets
lower profit margins
A(n) ___________ market is characterized by a fairly narrowly defined market with a complete and distinct set of needs, and a willingness to pay a premium to meet those needs.
local
niche
individual
derived
homogeneous
Which of the following is an example of individual marketing?
the customization of a computer database to meet the needs of a client company
the providing of a multi-use computer database software program that will perform nearly all the operations a typical company would need it to perform
the development of database software designed specifically for healthcare professionals
the identification of an unserved, small group of companies who need database software and the specific marketing activities aimed at this group
the use of a web site where a customer reviews a product catalog, selects what is wanted, types in modifications desired, and places an order
Positioning is a means of displaying, in two or more dimensions, the locations of products, brands, or groups of producers in customers' minds
True
False
Which segmentation method is NOT considered to be in the category of "psychographic segmentation"
beliefs
personality
occupation
lifestyle
Interests
