Chapter 7.1 Review

Which of the following is not a source for gathering secondary data?

For a small business, the mass-market approach is the best strategy.

Which of the following is not a source for gathering secondary data?

Psychographics group market segments by where they live.

Facts about consumers that relate to their beliefs, lifestyles, and personal preferences are

A B2B company is a company that sells to _______.

Demographics include age, marital status, and education

The carrying capacity of an industry is the amount of growth there would be for a new business

Selling to a(n) ___ market means selling to a limited # of people who are likely to buy

Which of the following is true about a target market?

Objective social and economic facts about people are called _______.

Before performing market research, the first thing you should do is

To understand a particular market, you need to research

Potential customers in a market can include people or businesses.

Which is not an example of data that would be included in a B2C customer profile?

Selling to a(n) ______ market means selling to as many customers as possible.

A group of potential customers who are willing and able to purchase a product or service is

A B2C company is a company that sells to _______.

A focus group is a large group assembled to discuss a particular problem or product.

Market research should be done before and after starting a new business.

Secondary data includes information gathered by the U.S. federal and state governments.

A(n) _____ group is a small number of people brought together to discuss a product or service.

Companies that sell to other companies are called