BUSA 1105 Chapter 11 Test Latest 2024 with Complete Solutions
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Course
BUSA 1105
Institution
BUSA 1105
BUSA 1105 Chapter 11 Test Latest 2024 with Complete Solutions
Market Segmentation - Answer- Market segmentation: Dividing potential customers into groups of similar people, or segments
Target Market - Answer- Group of people who are most likely to buy a particular product
Characteristics of...
Demographic Segmentation - Answer- Dividing the market based on characteristics
about people such as age, income, ethnicity, and gender
Geographic Segmentation - Answer- Dividing the market based on where consumers
live
Psycho-graphic Segmentation - Answer- Dividing the market based on consumer
attitudes, interests, values, and lifestyles
Behavioral Segmentation - Answer- Dividing the market based on how people behave
toward various products
Consumer Marketers - Answer- Business to Consumer. Direct their efforts toward
people who are buying products for personal consumption
Business Marketers - Answer- Business to Business. Direct their efforts toward people
who are buying products to use either directly or indirectly to produce other products
Global Marketing Mix - Answer- Firm evaluates its marketing mix when it enters foreign
markets
Competitive environment - Answer- Begins with analysis of the market share
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