Marketing Final Review Assignment 2

Which of these is NOT a way you can segment a market?

• Psychographic

• Benefit

• Qualitative

• Usage

Targeting a small group of consumers that use a product only because it makes them feel powerful is what type of segmentation?

• Benefit

• Demographic

• Psycho graphic

• Geographic

Targeting your "regulars" or loyal customers with a product is an example of what type of segmentation?

• Psychographic

• Demographic

• Benefit

• Usage

Doing a "soft open" for a product or service just to see if it will do well when you launch it for real is called what?

• Product Depth

• Test Marketing

• Brand Equity

• Consideration Set

Surveying a group of people asking what they think about an idea for a product.

• Market Segmentation

• Concept Testing

• Customer Profile

• Product Extension

What characteristic best fits the Introduction stage of the Product Life Cycle?

• Competition is at its lowest point

• Prices are at their lowest point

• Advertisements are in the remind stage

• Sales of the product are increasing rapidly

What characteristic best applies to the growth stage of the Product Life Cycle?

• Competitors enter the market

• Prices are at their highest point

• New products are added to the product line

• Saving money becomes an emphasis

What characteristic best describes the maturity stage of the Product Life Cycle?

• Competition starts to drop out of the market

• There is no longer competition at all

• The product distribution is at it's most efficient

• Profits are negative at this point

What characteristic best describes the decline stage of the Product Life Cycle?

• Profits are negative

• The need for product extension becomes necessary to survive

• Competition is at an all time high

• Profits increase

A businesses' target market can be everyone.

• True

• False