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Unit 2 - Identifying Markets Review #1
Test Description: Let's review what we learned in the unit 2
Instructions: Answer all questions to get your test result.
1) The marketing mix is made up of the 4 p’s:
A
Plan, Product, Place, and Price
B
Product, Price, Place, and Promotion
C
Price, Product, Place, Potential
D
Product, Plan, Place, and Promotion
2) Which best defines a Customer Profile?
A
Developing, Selling, and Researching
B
Age, Gender, Income, and Marital Status
C
Product, Price, Place, and Promotion
D
Distribution, Sales, Forecasts, and Price
3) The marketing mix _____________ when marketers try to target different segments of the market.
A
flips
B
stay the same
C
adapts
D
changes
4) All of the following are elements of product except:
A
Function
B
Packaging
C
Logistics
D
Design
5) All of the following are elements of Place except:
A
Design
B
Distribution
C
Logistics
D
Inventory
6) What is the main objective of marketing efforts in the consumer market?
A
To maximize market share
B
To create brand loyalty
C
To target other businesses
D
To reach a broad audience
7) Businesses who purchase goods or services for business use are participating in the
A
Target market
B
Organizational market
C
Consumer market
D
Marketing mix
8) The portion of the market that is controlled by a particular company or product is known as:
A
Market Share
B
Consumer market
C
Marketing mix
D
Organizational market
9) A group of consumers to whom a company aims its’ marketing efforts. These consumers are identified as potential customers
A
Market Share
B
Marketing mix
C
Target market
D
Organizational market
10) Placing people into smaller categories or groups is known as ____________.
A
Marketing segmentation
B
Market Share
C
Target market
D
Organizational market
11) Marketers create ____________ about target markets to help with the process of segmentation.
A
customer profiles
B
products
C
market segments
D
market share
12) _______ reduces a business’s risk of failure.
A
Low price
B
Consumer market
C
Market segmentation
D
Market share
13) People in an area that are willing to pay for a specific good or service make up a ________.
A
market share
B
organizational market
C
segmentation
D
market
14) The main objective of marketing efforts in the ________ is to maximize market share.
A
pricing strategy
B
organizational market
C
segmentation
D
consumer market
15) _________ primarily focuses on selling products and services to individual consumers.
A
Marketing segmentation
B
Target Market
C
Organizational market
D
Consumer market
16) Market share represents
A
the smaller categories or groups in order to market their similar needs and wants.
B
the total number of customers in a market.
C
the different categories consumer can be segmented into.
D
the portion of the market that is controlled by a particular company or product.
*select an answer for all questions
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