all potential customers who share needs and wants, and who have the ability to buy
What is a market?
100
Segmenting a market based on where people live
What are geographics?
100
Market segmentation is a way of analyzing a market by specific characteristics
What is market segmentation?
100
Strengths, Weaknesses, Opportunities, and Threats
What does SWOT stand for?
100
Statistics that describe a population-based on personal characteristics
What is the definition of demographics?
200
1. consumer market
2. business to business market
What are the different types of markets?
200
local, regional, national or global markets
What are 4 different geographics markets?
200
Demographics
Psychographics
Geographics
What are the 3 ways of separating a market?
200
Customers, Company, and Competitive position
What are the 3 C's?
200
Age
Gender
Income
Marital Status
Ethnic Background
Occupation
Education
Census Data
What are examples of demographics?
300
The percent of sales volume of all companies in a given market
What is a market share?
300
Climate
Weather
City size
Global markets
What else can geographics be based off of?
300
Uses different strategies based on demographics, psychographics, geographics, and buying behaviors
What is Niche Market Segmentation?
300
Strengths
Weaknesses
Which are internal?
300
Generation X
Generation Y
Generation Z
Baby Boomers
What are the 4 generations we studied?
400
Customer-Those who buy a product
Consumer-Those who actually use the product
Explain the difference between a customer and consumer.
400
McDonald's, Coca-Cola, etc
Give an example of a product that markets globally(internationally).
400
80% of their sales are generated by 20% of their customers
What is the 80/20 rule?
400
Opportunities
Threats
Which are external?
400
Disposable Income-After paying taxes, For your needs
Discretionary Income-After paying taxes and living necessities(food, shelter, and clothing), For your wants
What is disposable income vs discretionary income?
500
1. backpack
2. toys
3. cars
List products for
1. you
2. children
3. adults
500
Any warm place...
Florida
California
Arizona
Etc.
Where would you market to reach elderly people?
500
Census data is the data the US government collect every 10 years about demographics. It is important to marketing because it helps marketers find out more about potential customers.
What is census data and why is it important to marketing?
500
Staff(Employee) Related Questions
Financial Questions
Production Capability Questions
Marketing Mix Questions
What type of questions would a business ask about their company?
500
Divorcing more
Marrying older
Remarrying less
Living longer(widowers)
What are the reasons for the drop of married couples?