Chapter 1 - Unit 1.1: Target Market Question Preview (ID: 61859)


Multiple Choice Questions On This Unit. Get The Correct Answer To Play The Game. TEACHERS: click here for quick copy question ID numbers.

Why is it important to compare your school store with the competition?
a) Capturing a market share
b) Gaining a competitive edge
c) Formulating pricing strategies
d) All of these

In identifying the target market, which of the following is true?
a) The market segment should be measurable
b) The market segment should be reachable
c) The market segment should be large enough to be profitable
d) All of these

Segmenting the market by the customer's age, gender, or occupation is known as
a) Psychographics
b) Demographics
c) Geographics
d) Buying characteristics

GEOGRAPHICS is
a) A particular group that you are interested in reaching.
b) Market segmentation based upon where people live.
c) Using social and psychological characteristics of your customers to help determine what motivates them to buy.
d) Using physical characteristics (age, gender, location, education, occupation, income level, etc) to segment your market.

PSYCHOGRAPHICS can be defined as
a) A particular group that you are interested in reaching.
b) Market segmentation based upon where people live.
c) Using social and psychological characteristics of your customers to help determine what motivates them to buy.
d) Using physical characteristics (age, gender, location, education, occupation, income level, etc) to segment your market.

You can define DEMOGRAPHICS as
a) A particular group that you are interested in reaching.
b) Market segmentation based upon where people live.
c) Using social and psychological characteristics of your customers to help determine what motivates them to buy.
d) Using physical characteristics (age, gender, location, education, occupation, income level, etc) to segment your market.

A TARGET MARKET is
a) A group of people or companies that have a demand for a product or service, and are willing and able to buy it.
b) A particular group that you are interested in reaching.
c) using specific characteristics to analyze your market by breakdown down a larger target market into smaller segments.
d) None of these.

Market Segmentation involves
a) A group of people or companies that have a demand for a product or service, and are willing and able to buy it.
b) A particular group that you are interested in reaching.
c) using specific characteristics to analyze your market by breakdown down a larger target market into smaller segments.
d) None of these

The definition of MARKET is
a) A group of people or companies that have a demand for a product or service, and are willing and able to buy it.
b) A particular group that you are interested in reaching.
c) Using specific characteristics to analyze your market by breaking down a larger target market into smaller segments.
d) None of these

The dollar menu at McDonald's is an example of what?
a) Market segmentation
b) Target market
c) Psychographics
d) Demographics

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