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- 1. Multiple Choice
Market segmentation:
Divides customers into sub groups
Is a method of promotion
Is a qualitative form of market research
Transports products to customers
- 2. Multiple ChoiceHow is a market segmented by 'lifestyle'?Products can be aimed specifically at males or females or bothPeople have different hobbies and interests, which can be connected to income and location.Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller carAge groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old
- 3. Multiple ChoiceHow is a market segmented by 'location'?Products can be aimed specifically at males or females or bothPeople have different hobbies and interests, which can be connected to income and location.Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller carAge groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old
- 4. Multiple Choice
An internet travel agent sells expensive round the world cruises. Which of the following market segments is the travel agent most likely to target?
Families with children under 5
Local residents
People with high incomes
Young, single men
- 5. Multiple Choice
The particular market segment at which a business aims its products is known as the:
Target Market
Unique Selling Point
Main Market
Market Leader
- 6. Multiple Choice
The market for a product or service can often be broken down into different area where customers have distinct needs and wants. These areas are called market:
Sections
Segments
Synergies
Forces
- 7. Multiple Choice
Which of the following is an advantage of using market segmentation?
It allows a business to charge higher prices
It lets a business invest more in plant and machinery
It saves business money by avoiding the need for TV advertising
It allows a business to target its promotional strategy more effectively.
- 8. Multiple Choice
What is a disadvantage of using market segmentation?
You can't sell your products to everyone
It is rarely effective
It requires additional market research
Not everyone likes tangerines
- 9. Multiple Choice
A disadvantage of market segmentation is...
Making different product variants for different segments is expensive
It will lead to products better suited to customer needs
It will reduce marketing costs by not targeting unprofitable segments
It helps businesses avoid entering overly-competitive markets
- 10. Multiple Choice
Which is NOT an example of Market Segmentation?
Income
Gender
Age
Hair Colour
- 11. Multiple Choice
A business' target market includes
Everyone
All the people who might use a product or service
The specific people that the company is aiming to reach with its marketing and sales efforts
One segment of the market
- 12. Multiple Choice
The process of dividing a market of potential customers into groups based on different characteristics is called
Market Segmentation
Market Analysis
Demographics
Consumer identification
- 13. Multiple Choice
A business' target market includes
Everyone
All the people who might use a product or service
The specific people that the company is aiming to reach with its marketing and sales efforts
One segment of the market
- 14. Multiple ChoiceWhat is qualitative data?Data involving numbersData involving information with no numbersData with information that involves business' marketing strategiesdata involving colors
- 15. Multiple ChoiceWhat is an example of primary research?MagazineObservationNewspaperGovernment statistics
- 16. Multiple ChoiceWhat is a problem with using secondary data?It is easy to findIt is normally quicker to findYou did not create it (it might be unreliable)You have to find the information yourself
- 17. Multiple ChoiceSeeks open-ended responses. Answers questions about “why” and “how"Qualitative ResearchQuantitative ResearchSurveyQuestionnaire
- 18. Multiple ChoiceMarketing research:is used to obtain information for management to make more informed decision making.is the collection and analysis of data from a sample or census of individuals or organizations.includes all forms of market, opinion and social research such as consumer and industrial surveys.is work undertaken to determine either structural characteristics of the industry of concern.
- 19. Multiple ChoiceSecondary data has two important advantages over primary data. It is:capable of compensating for rapid environmental changes and technical improvements.always available and complete.seldom obsolete and usually fits the dimensions of your problem.generally cheaper to gather than primary data and takes less time to find.
- 20. Multiple ChoiceA common disadvantage of primary research for a startup is that:It is time-consuming to obtainIt doesn't answer the questions askedIt doesn't allow for qualitative questionsIt can't be done online
- 21. Multiple ChoiceWhich of these methods is an example of primary market research?Focus group talking about the product conceptA google search for relevant newspaper artlicleA government report on the target marketMintel report on the target market
- 22. Multiple ChoiceWhich METHOD of research is being described here?
It is conducted face-to-face with customers and a series of questions are askedPersonal interviewTelephone surveyOn-line surveyFocus group - 23. Multiple ChoiceWhat type of data is numerical?QuantitativeQualitativePrimarySecondary
- 24. Multiple Choice
Which of these is not a possible reason for carrying out market research?
To work out a possible price for a product
To find out about meeting consumer needs
To find out what the Government will do with interest rates next year
To find out how similar products/services from other companies are selling
- 25. Multiple ChoiceTyler walks into a Starbucks, and keeps track of how many caramel cinnamon lattes are being sold to gather data. What method is he using?SurveyObservationProduct MixProduct line
- 26. Multiple ChoiceWhat is the better definition of secondary research?Stealing someone else's informationUsing information that already existsCollecting new informationFinding old research
- 27. Multiple ChoicePrimary research is also known as...Desk ResearchField Research
- 28. Multiple ChoiceWhat is an example of secondary research?Focus GroupObservationNewspaperQuestionnaire
- 29. Multiple ChoiceCollecting primary data can be expensive and time-consuming.TrueFalse
- 30. Multiple Choice
Government reports would be which kind of market research?
Field Research
Quantitative Research
Desk Research
Target research
- 31. Multiple Choice
An interview with a group of potential customers who provide valuable feedback.
Survey
Focus group
Observation
- 32. Multiple Choice
True or False: Primary research can be very expensive and time consuming.
True
False
- Answer choicesTagsAnswer choicesTags