Market Identification

The process of dividing a market of potential customers into groups based on different characteristics is called

• Market Segmentation

• Market Analysis

• Demographics

• Consumer identification

The term "Demographics" refers to

• Grouping potential customers based on their beliefs and preferences

• Grouping potential customers based on whether or not they have purchased a product in the past

• Grouping potential customers using statistical data such as age, race and gender

• Grouping potential customers based on where they live

Segmenting a market based on customers' attitudes, opinions, and interests is called

• Demographics

• Psychographics

• Geographics

• Market Segmentation

When a business divides its market on the basis of where its customers live is called

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

Segmenting a market based on customers' buying habits is an example of

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

• geographic segmentation

Which market segment would this product appeal to?

• High income, males, 18+, who enjoy fast cars
• Low income, young, females, who enjoy fast cars

The same person or business can be included in more than one target market.

• True

• False

One of mass marketing's advantages is that it can be used to communicate a small message to a large audience.

• True

• False

Mass marketing provides the least possibilities for success at the highest cost.

• True

• False

Both large and small companies can benefit from segment marketing.

• True

• False