HW08

1. What is the process of dividing a market into distinct groups of buyers?

• Market analysis
• Consumer profiling
• Market segmentation
• Market targeting

2. A particular group of consumers at which a product or service is aimed is known as what?

• consumer base
• market segment
• target market
• product demographic

3. What is the process of establishing a brand or product in a certain way in the consumer's mind?

• Brand positioning
• Brand awareness
• Product differentiation
• Market segmentation

4. Activities aimed at increasing the visibility and sales of a product or service are called what?

• Customer service enhancements
• Marketing activities
• Supply chain management techniques
• Product development strategies

5. What term refers to the value added to a product by having a well-known brand name?

• brand loyalty
• brand value
• brand equity
• brand recognition

6. The study of individuals and groups in selecting, purchasing, and using products is known as what?

• Market Research
• Product Development
• Sales Strategy
• Consumer Behavior

7. What is the assessment of the market to determine its potential and size called?

• Market analysis
• Market segmentation
• Market forecasting
• Market evaluation

8. General direction in which a market is moving over time is known as what?

• Market analysis
• Market fluctuation
• Market strategy
• Market trend

9. An attribute that allows an organization to outperform its competitors is known as what?

• Customer loyalty
• Operational efficiency
• Competitive advantage
• Market share

10. A statement that explains how a product solves a problem or improves a situation is called what?

• value proposition
• marketing strategy
• customer benefit
• unique selling point