Business Market
Market Research
Market Segmentation
Business Competition
True or False

100

Companies that sell primarily to consumers

What is business to consumers?


100

A statement that can be tested and proved either true or false

What is a hypothesis?

100

A detailed description of target market customers based on market segmentation variables

What is a customer profile?

100

Stands for strengths, weaknesses, opportunities, and threats. 

What is SWOT?

100

The Internet, trade journals, and chambers of commerce are all examples of secondary data sources

What is true?

200

The entire market of potential customers

What is mass market? 

200

The specific steps for testing a hypothesis

What is a research plan?

200

Dividing the market according to age, gender, and income.

What is demographic segmentation 

200

McDonald and Burger king are these type of competitors 

What are direct competitors. 

200

Customers should not be targeted according to their ethnic group or culture

What is false?

300

Companies that sell primarily to other companies.

What is business to business? 

300

Studying raw data to find patterns and organizing it into graphs and charts

What is data analysis?

300

Dividing the market based on region, climate, and population density

What is geographic segmentation?

300

Walmart and BJ's are these types of competitors. 

What are indirect competitors. 

300

Usage rate of a product is not used in geographic segmentation

What is true?

400

A group of people or businesses with common characteristics or needs.

What is market segment? 

400

A mathematical technique for analyzing collected data

What is statistical analysis? 

400

Dividing the market based on customer interests, attitudes, and values

What is psychographic segmentation? 

400

A statement that lists a company’s or product’s special features or benefits and highlights its competitive advantage.

What is a unique selling proposition?

400

White collar and blue collar are terms used in identifying a customer’s interests

What is false?

500

A specific group of customers at which a company aims its products and services.

What is a target market? 

500

Searching through large amounts of computerized data to find useful information 

What is data mining? 

500

Dividing the market according to relationships between customers and the product or service

What is behavioral segmentation?

500

What type of competition is based on the features or benefits of a product or service

What is non price competition? 

500

Researchers often gather primary data prior to looking at secondary data

What is false?