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Chapter 1 - Unit 1.1: Target Market
Test Description: Multiple choice questions on this unit. Get the correct answer to play the game.
Instructions: Answer all questions to get your test result.
1) The definition of MARKET is
A
Using specific characteristics to analyze your market by breaking down a larger target market into smaller segments.
B
A group of people or companies that have a demand for a product or service, and are willing and able to buy it.
C
A particular group that you are interested in reaching.
D
None of these
2) Market Segmentation involves
A
None of these
B
A group of people or companies that have a demand for a product or service, and are willing and able to buy it.
C
A particular group that you are interested in reaching.
D
using specific characteristics to analyze your market by breakdown down a larger target market into smaller segments.
3) A TARGET MARKET is
A
A particular group that you are interested in reaching.
B
using specific characteristics to analyze your market by breakdown down a larger target market into smaller segments.
C
A group of people or companies that have a demand for a product or service, and are willing and able to buy it.
D
None of these.
4) You can define DEMOGRAPHICS as
A
Using social and psychological characteristics of your customers to help determine what motivates them to buy.
B
Using physical characteristics (age, gender, location, education, occupation, income level, etc) to segment your market.
C
A particular group that you are interested in reaching.
D
Market segmentation based upon where people live.
5) PSYCHOGRAPHICS can be defined as
A
Using physical characteristics (age, gender, location, education, occupation, income level, etc) to segment your market.
B
A particular group that you are interested in reaching.
C
Market segmentation based upon where people live.
D
Using social and psychological characteristics of your customers to help determine what motivates them to buy.
6) GEOGRAPHICS is
A
Using physical characteristics (age, gender, location, education, occupation, income level, etc) to segment your market.
B
A particular group that you are interested in reaching.
C
Using social and psychological characteristics of your customers to help determine what motivates them to buy.
D
Market segmentation based upon where people live.
7) In identifying the target market, which of the following is true?
A
The market segment should be large enough to be profitable
B
All of these
C
The market segment should be measurable
D
The market segment should be reachable
8) Segmenting the market by the customer's age, gender, or occupation is known as
A
Buying characteristics
B
Geographics
C
Psychographics
D
Demographics
9) Why is it important to compare your school store with the competition?
A
Capturing a market share
B
Formulating pricing strategies
C
All of these
D
Gaining a competitive edge
10) The dollar menu at McDonald's is an example of what?
A
Psychographics
B
Demographics
C
Market segmentation
D
Target market
*select an answer for all questions
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