Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Unit 2 - Identifying Markets Review #3
Test Description: Let's review what we learned in class
Instructions: Answer all questions to get your test result.
1) What is market share?
A
The total number of customers in a market
B
The number of products a company manufactures
C
The percentage of the total market controlled by a company or product
D
The total revenue generated by a company
2) What is the primary purpose of market segmentation?
A
To increase production costs
B
To target specific customer groups with tailored marketing efforts
C
To expand the size of the market
D
To reduce competition
3) What does a target market refer to?
A
The competitors in a given industry
B
The entire population of potential customers
C
The most profitable customers in a market
D
A specific group of consumers that a company aims its marketing efforts towards
4) Which of the following is NOT a common basis for market segmentation?
A
Demographic
B
Generic
C
Geographic
D
Psychographic
5) What is the term for the process of dividing a market into smaller, distinct groups based on certain characteristics or behaviors?
A
Market expansion
B
Market penetration
C
Market analysis
D
Market segmentation
6) Logistic is an element of
A
product
B
promotion
C
price
D
place
7) Which market is focused on selling products and services to other businesses?
A
Retail market
B
Target market
C
Organizational market
D
Consumer market
8) How is market share typically calculated?
A
Total customers divided by total revenue
B
Total revenue of a company divided by the total revenue of the industry
C
Total revenue divided by total customers
D
Total revenue divided by the size of the target market
9) What is the main goal of marketing efforts in the consumer market?
A
To reach a broad audience
B
To create brand loyalty
C
To target other businesses
D
To maximize market share
10) What is one advantage of effectively targeting a specific market segment?
A
Less need for advertising
B
Increased competition
C
Increase marketing efficiency
D
Lower market share
11) __________ involves dividing a market into smaller, distinct groups based on specific characteristics or behaviors.
A
Market segmentation
B
Consumer market
C
Target market
D
Organizational market
12) An organizational market primarily focuses on selling products and services to _______
A
multiple target markets
B
individual consumers
C
market share
D
businesses
13) The marketing mix elements of product, place, and price remain constant and do not change when targeting different segments of the market.
A
False. All elements change.
B
False. Place and price do not change.
C
False. Product and place do not change.
D
False. All elements do not change.
14) In market segmentation, demographic information includes all, except:
A
Age
B
Gender
C
Location
D
Marital Status
15) ______ is one element of the marketing mix that directly affects the consumer's perception of a product.
A
Price
B
Product
C
Place
D
Promotion
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?