Unit 2 - Identifying Markets Review #1 Question Preview (ID: 62267)


Let's Review What We Learned In The Unit 2. TEACHERS: click here for quick copy question ID numbers.

_________ primarily focuses on selling products and services to individual consumers.
a) Consumer market
b) Organizational market
c) Target Market
d) Marketing segmentation

People in an area that are willing to pay for a specific good or service make up a ________.
a) segmentation
b) organizational market
c) market
d) market share

The main objective of marketing efforts in the ________ is to maximize market share.
a) organizational market
b) pricing strategy
c) consumer market
d) segmentation

Marketers create ____________ about target markets to help with the process of segmentation.
a) customer profiles
b) market segments
c) market share
d) products

_______ reduces a business’s risk of failure.
a) Market segmentation
b) Market share
c) Consumer market
d) Low price

Placing people into smaller categories or groups is known as ____________.
a) Market Share
b) Marketing segmentation
c) Organizational market
d) Target market

A group of consumers to whom a company aims its’ marketing efforts. These consumers are identified as potential customers
a) Target market
b) Organizational market
c) Market Share
d) Marketing mix

Businesses who purchase goods or services for business use are participating in the
a) Consumer market
b) Target market
c) Organizational market
d) Marketing mix

The portion of the market that is controlled by a particular company or product is known as:
a) Consumer market
b) Organizational market
c) Marketing mix
d) Market Share

What is the main objective of marketing efforts in the consumer market?
a) To maximize market share
b) To create brand loyalty
c) To reach a broad audience
d) To target other businesses

All of the following are elements of product except:
a) Logistics
b) Packaging
c) Design
d) Function

All of the following are elements of Place except:
a) Distribution
b) Inventory
c) Logistics
d) Design

The marketing mix _____________ when marketers try to target different segments of the market.
a) stay the same
b) changes
c) flips
d) adapts

Which best defines a Customer Profile?
a) Distribution, Sales, Forecasts, and Price
b) Product, Price, Place, and Promotion
c) Age, Gender, Income, and Marital Status
d) Developing, Selling, and Researching

The marketing mix is made up of the 4 p’s:
a) Product, Price, Place, and Promotion
b) Product, Plan, Place, and Promotion
c) Plan, Product, Place, and Price
d) Price, Product, Place, Potential

Market share represents
a) the portion of the market that is controlled by a particular company or product.
b) the different categories consumer can be segmented into.
c) the total number of customers in a market.
d) the smaller categories or groups in order to market their similar needs and wants.

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