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What is the purpose of market segmentation?
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
What is a target market?
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
Which term refers to the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors?
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
How is market share typically calculated?
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
Which market is focused on selling goods and services to other businesses?
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
Which of the following is NOT a common method of market segmentation?
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
All of the following are elements of Price except:
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
The marketing mix is made up of the 4 p’s:
A specific group of consumers that a company aims its marketing efforts towards
Total revenue of a company divided by the total revenue of the industry
Economic segmentation
Organizational market
Inventory
To create niche markets
Market segmentation
Product, Price, Place, and Promotion
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