What is a target market?

a group of people most likely to become customers

What do geographic, demographics, psychographics, & product benefits have in common?

They are methods that can be used to segment a market.

When conducting a SWOT analysis, the internal aspect of the analysis is based on

the company's strengths and weakness

The three phases of the marketing process are

planning, implementation, and control.

Segmenting the market based on product-related behavior involves looking at

benefits desired, shopping patterns, and usage rates.

What is the main purpose of the selling process?

to influence the purchasing decision

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Marketing Essentials Unit 1: The World of Marketing

12 termsStudBud Administration47 plays

Chapters 1 & 2

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Questions 12

Answers

1
What term is used to describe people born between 1946-1964?
Generation X
Generation Z
the baby boom generation
Generation Y
2
What is a target market?
a group of people most likely to become customers
a group of people identified by using market research
a group of people similar to one already identified
a group of people most likely to be similar in age
3
Which area of skill and knowledge are part of the study of marketing?
economics & entrepreneurship
calculus & statistics
intelligence & mental health
human development & psychology
4
What is most often the main goal of a retail business to which you are selling your product?
satisfying customers
increasing profit
understanding the market
mass merchandising
5
What do geographic, demographics, psychographics, & product benefits have in common?
They are terms used frequently in sales-oriented companies.
They are examples of mass-marketing approaches.
They are unrelated to one another.
They are methods that can be used to segment a market.
6
When conducting a SWOT analysis, the internal aspect of the analysis is based on
the company's strengths and weakness
political, economic, socio-cultural & technological factors
market research findings
sales, advertising, and promotions
7
The three phases of the marketing process are
directing, controlling, and evaluating.
analyzing, performing, and evaluating.
planning, implementation, and control.
segmenting a market, targeting a group & promoting a product
8
Which is likely to lower the unit cost of producing a product?
increased demand for a product
decreased demand for a product
greater variety of product choice
a general softening of the market
9
To direct the marketing activities of a company, as well as monitor its performance, you would
conduct an environmental analysis
conduct a SWOT analysis
conduct marketing research
write a marketing plan
10
Segmenting the market based on product-related behavior involves looking at
geographic & demographics.
benefits desired, shopping patterns, and usage rates.
personality and values.
mass marketing opportunities.
11
What does good marketing planning require?
informing through advertising
understanding business systems
making a profit
collecting & analyzing data
12
What is the main purpose of the selling process?
to promote social responsibility
to create a database about customers
to influence the purchasing decision
to consider consumer wants & needs

Marketing Essentials Unit 1: The World of Marketing Flashcards | StudBud