IB BM UNIT 4.2

_____________segmentation - The marketing process that involves characterising consumers according to their different geographical locations.

Which type of goods are sold to end users or those bought and used by individuals and households?

• Consumer services

• Producer goods

• Producer services

• Consumer goods

Potters Pots has a 26% share of the garden pots market in a local city. The market is worth $15,000,000 per year. What is the firm’s annual sales revenue?

• $17,250,000

•   $3,900,000

• $2,900,000

• $11,100,000

Which type of goods are sold to end users or those bought and used by individuals and households?

• Consumer services

• Consumer goods

•   Producer services

• Producer goods

_______markets - A marketing approach that focuses on supplying to wide-ranging groups of customers in a market, without having split them into separate market segments

________strategies - The different long-term actions used by an organization to achieve its marketing goals.

__________segmentation - Segmentation that involves characterising consumers according to people’s lifestyle choices and personal values.

A ‘bargain’ product on a perception map (based on price vs quality) is likely be perceived as one that offers which of the following?

• Low quality at a low price

• High quality at a low price

• Low quality at a high price

• High quality at a high price

A corporate strategy based on identifying and serving a relatively small market segment is known as what?

• Mass marketing

• Market mapping

• Market segmentation

• Niche marketing

A premium product on a perception map (based on price vs quality) is likely be perceived as one that offers which of the following?

• High quality at a low price

•   Low quality at a high price

• Low quality at a low price

• High quality at a high price