Marketing Ch. 14/15

Chance for success by combining an idea and a market that can buy the product.

Ethnocentrism is another term used to describe a

An example of a business opportunity could be

Exaggerate one characteristic and assume all members of a group have the same characteristic.

Hostility toward a group of people.

The 4 general approaches to target market include all but

Ranking people based on wealth, power, education, ancestry, and power.

Development of a unique marketing mix for a market segment.

A market niche is

Belief that a person's own culture is the best.

A cultural group that is based on ethnicity is the

Modifications over time in number of people in a category, like age or income.

International trade makes the marketplace more diverse because foreign countries

Culturally Diverse describes all of the following EXCEPT

Marketing information about ethnic groups is often accurate EXCEPT

Development of only one marketing mix for a specific product.

Culture can include all but

A society consisting of people from many different cultures.

Mass Marketing:

The first step in creating a service business is