EL 5 - Competitive Markets Test

Front

All people belong to only one market segment.

Back

False

Front

The business environment is constantly changing with new products entering the market.

Back

True

Front

Competition benefits consumers. True or False?

Back

True

Front

Weekly supermarket ads are an example of non-price competition.

Back

False

Front

Trade shows are examples of information sources.

Back

True

Front

What is the process of dividing a large group of consumers into subgroups based on specific characteristics and common need?

Back

Market segmentation

Front

Which segmentation category is based on where you live: Demographics, Psychographics, Geographic, Product usage?

Back

Geographic

Front

Which segmentation category is based on people’s likes and interests: Demographics, Psychographics, Geographic, Product usage

Back

Psychographics

Front

Which segmentation category is based on specific values they expect or require from the use of a product or service: Demographics, Psychographics, Benefit expectations, Product usage

Back

Benefit expectations

Front

Which segmentation category is based on age, gender, race, income, and education level: Demographics, Psychographics, Benefit expectations, Product usage

Back

Demographics