Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Liza is a
Answer: Market. A market is a customer or potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire. Liza is a market because she not only wants a horse but also has the money to buy one very soon. A resource is an item that is used to produce goods and services. A target group is a particular segment of the market. A market segment is one of the groups into which the total market is divided.
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Market Planning
- Jackie is interested in predicting what special events result in higher demand for chocolate candy. She should conduct behavioral segmentation based on
- When marketers sort customers psychographically, they divide them by
- Geographic segmentation is dividing a market by where customers are
- The customer characteristic that reflects where customers fit in the day-to-day buying routine is known as
- The community college has decided to market its evening classes to women between the ages of 18 and 30 who are high-school graduates. What type of segmentation is the college using?
- Sorting customers by their physical and social characteristics is called _________ segmentation.
- Marketers divide their markets by grouping customers according to their
- Today's customers are not influenced by mass marketing alone because they are more
- Mass marketing is not as precise as _____________ marketing.
- The Thompson Company decided it would be more successful if it divided the total market for its products into smaller, more specific groups of consumers. This business is engaged in
- When the total market is divided, one of its groups is called a market
- Market segmentation is about dividing the market into __________ groups.
- When sellers offer one-size-fits-all products that will appeal to most buyers, they are using
- When using mass marketing, marketers seek to appeal to the
- The same person can be included in more than one
- Marzetti's Musical Instruments has determined that it will focus its marketing efforts on senior high-school students. Marzetti's is engaged in _________ marketing.
- When examining a market, marketers primarily notice its
- A target market can be described as the
- To buy a product, customers in a market must first