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Chapter 4 vocab

Total questions: 16

Worksheet time: 10mins

Name
Class
Date
1.

The individuals or companies that are interested in a particular product or service and are willing and able to pay for it

a)

Market Segments

b)

Use-based Data

c)

Geographic data

d)

Target Market

2.

Groups or customers within a large market who share common characteristics

a)

Market Segments

b)

Use-based Data

c)

Geographic data

d)

Target Market

3.

Description of the characteristics of the person or company that is likely to purchase a product of service

a)

Customer Profile

b)

Use-based Data

c)

Geographic data

d)

Target Market

4.

Data that describe a group of people in terms of age, marital status, family size, ethnicity, gender, profession, education, and income

a)

Demographics

b)

Use-based Data

c)

Geographic data

d)

Target Market

5.

Data that describes a group of people in terms of their tastes, opinions, personality traits, and lifestyle habtis

a)

Market Segments

b)

Use-based Data

c)

Geographic data

d)

Psychographics

6.

Use-Base Data is data that helps you determine how often potential customers use a particular service

a)

True

b)

False

7.

Data that help you determine where potential customers live and how far they will travel to do business with you

a)

Market Segments

b)

Use-based Data

c)

Geographic data

d)

Psychographics

8.

A system for collecting, recording, and analyzing information about customers

a)

Market research

b)

Primary Data

c)

Survey

d)

Focus group

9.

Information collected for the very first time to fit a specific purpose

a)

Market research

b)

Primary Data

c)

Survey

d)

Focus group

10.

List of questions you would like to ask your customers to find out demographic and psychographic information

a)

Market research

b)

Primary Data

c)

Survey

d)

Focus group

11.

An in-depth interview with a group of target customers who provide valuable ideas on products and services

a)

Market research

b)

Primary Data

c)

Survey

d)

Focus group

12.

Found in already- published sources

(a)  

13.

The goal of a new marketing trend that focuses on understanding customers as individuals instead of as part of a group

a)

CRM (Customer Relationship Management)

b)

Direct Competition

c)

Indirect Competition

d)

Competitive analysis

14.

A business that makes most of its money selling the same of similar products or services to the same market as other business

a)

CRM (Customer Relationship Management)

b)

Direct Competition

c)

Indirect Competition

d)

Competitive analysis

15.

A business that makes only a small amount of money selling the same or similar products and services to the same market as other businesses

a)

CRM (Customer Relationship Management)

b)

Direct Competition

c)

Indirect Competition

d)

Competitive analysis

16.

Identifying and examining the characteristics of a competing firm

a)

CRM (Customer Relationship Management)

b)

Direct Competition

c)

Indirect Competition

d)

Competitive analysis