Marketing Principles Midterm Review Practice Test

Front

A group of people with shared characteristics and interests such as demographics and psychographics that are most likely to purchase a business's products or services is known as __________________.

Back

target market

Front

What are the four types of market segmentation? Options: demographic, behavioral, psychographic, and geographic, economics, sharing, returns, and investment, exchange, value, variables, and personality, production, percentage, finance, and customer service

Back

demographic, behavioral, psychographic, and geographic

Front

What type of market segmentation involves dividing a market according to different variables such as age, gender, family size, income, and occupation?

Back

demographic segmentation

Front

What type of market segmentation involves dividing a market according to different characteristics such as values, interests, hobbies, likes/dislikes, lifestyles, etc.?

Back

psychographic segmentation

Front

Which type of market segmentation is dividing a market based on the household family size?

Back

demographic segmentation

Front

What type of market segmentation is dividing a market based on customers' hobbies and interests?

Back

psychographics

Front

Identify the particular type of segmentation being described: Ray-Ban Sunglasses has a new marketing campaign to focus on consumers that live within 100 miles of one of their store locations. Segmenting a market based on where a consumer lives is an example of ______________ segmentation.

Back

geographics

Front

A framework that allows a business to consider the strengths, weaknesses, opportunities, and threats affecting a business. It provides a snapshot of the company's health, and helps marketers identify things that may affect the performance of their marketing campaigns. This framework can be described as which of the following?

Back

SWOT analysis

Front

The process and methods used to gather information, analyze it, and report findings related to the marketing of goods and services is known as____________.

Back

market research

Front

Which data collection method is the most commonly used, most effective, and cost-efficient and results in the highest response rate among other collection methods? Options: focus group, in-person interview, online survey, phone interview

Back

online survey