MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
1. consumer market Purchasers and household
members who intend to consume
or benefit from the purchased
products and do not buy products
to make profits or serve an or-
ganizational need
2. business market individuals or groups that
purchase a specific kind of product
for resale, direct use in producing
other products, or use in general
daily operations
3. undifferentiated targeting strategy A strategy in which an organization
de-
signs a single marketing mix and
directs it at the entire market for a
particular product
4. homogeneous market a market in which a large
proportion of customers have
similar needs for a prod- uct
5. heterogeneous market A market made up of individuals or
orga- nizations with diverse needs
for products in a specific product
class
6. market segmentation The process of dividing a total
market into groups with relatively
similar prod- uct needs to design a
marketing mix that matches those
1/
45
,MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
needs
7. market segment Individuals, groups, or
organizations sharing one or more
similar characteris- tics that cause
them to have similar prod- uct
needs
2/
45
,MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
8. concentrated targeting strategy A market segmentation strategy in
which
an organization targets a single market segment using one marketing mix
9. differentiated targeting strategy A strategy in which an organization
tar-
gets two or more segments by develop- ing a marketing mix for each segment
10. Segmentation Variables Characteristics of individuals, groups,
or organizations used to divide a
market into segments
11. market density The number of potential customers
with- in a unit of land area
12. geodemographic segmentation a method of market segmentation
that
clusters people into zip code areas and smaller neighborhood units based on lifestyle and
demographic information
13. micromarketing An approach to market
segmentation in which
organizations focus precise mar-
keting ettorts on very small
geographic markets
14. benefit segmentation the division of a market according
to benefits that consumers want
from the product
15. market potential The total amount of a product that
cus- tomers will purchase within a
specified period at a specific level of
3/
45
, MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
industry-wide marketing activity
4/
45
graded A+ updated to pass
1. consumer market Purchasers and household
members who intend to consume
or benefit from the purchased
products and do not buy products
to make profits or serve an or-
ganizational need
2. business market individuals or groups that
purchase a specific kind of product
for resale, direct use in producing
other products, or use in general
daily operations
3. undifferentiated targeting strategy A strategy in which an organization
de-
signs a single marketing mix and
directs it at the entire market for a
particular product
4. homogeneous market a market in which a large
proportion of customers have
similar needs for a prod- uct
5. heterogeneous market A market made up of individuals or
orga- nizations with diverse needs
for products in a specific product
class
6. market segmentation The process of dividing a total
market into groups with relatively
similar prod- uct needs to design a
marketing mix that matches those
1/
45
,MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
needs
7. market segment Individuals, groups, or
organizations sharing one or more
similar characteris- tics that cause
them to have similar prod- uct
needs
2/
45
,MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
8. concentrated targeting strategy A market segmentation strategy in
which
an organization targets a single market segment using one marketing mix
9. differentiated targeting strategy A strategy in which an organization
tar-
gets two or more segments by develop- ing a marketing mix for each segment
10. Segmentation Variables Characteristics of individuals, groups,
or organizations used to divide a
market into segments
11. market density The number of potential customers
with- in a unit of land area
12. geodemographic segmentation a method of market segmentation
that
clusters people into zip code areas and smaller neighborhood units based on lifestyle and
demographic information
13. micromarketing An approach to market
segmentation in which
organizations focus precise mar-
keting ettorts on very small
geographic markets
14. benefit segmentation the division of a market according
to benefits that consumers want
from the product
15. market potential The total amount of a product that
cus- tomers will purchase within a
specified period at a specific level of
3/
45
, MKT 300 Moman Exam 2 questions & answers
graded A+ updated to pass
industry-wide marketing activity
4/
45
