Target Market
The group of consumers that your business expects will buy your product or service
target market
The characteristics of the group of people most likely to buy a specific product
consumer profile
A focused, targetable portion of a bigger market
niche
The link discovered between the purchase of diapers and the purchase of beer in Walmart USA stores was uncovered by
data mining
This method of primary research may allow the marketer to change certain things about a product before full entry into the market
test marketing
Sending newspaper advertisements directly to ones target market
direct mail campaign?
demographics
True or false; companies focus on niche markets to better cater to a specific consumer than competitors who target a broad audience.
true
Where companies store large sets of data collected from customers
data warehouses
A type of research in which a trained interviewer meets with a small group of consumers to discuss a marketing idea or product.
focus group
Whe most important criterion for identifying target markets
demographic segmentation
Businesses would typically break up their consumer profiles into these two groups
their primary and secondary markets
True or false; A niche market with no competition, is usually an indication that this market is profitable or worth the effort
false
Technology which can scans the contents of the shelves in a retail store and alert employees when stock is becoming low or if theft is detected
smart scanner
This type of research can be administered by phone, mail, personal and/or over the internet.
survey
Involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments consisting of the customers whose needs and desires most closely match your product or service offerings
target marketing
groups of consumers with common characteristics and/or buying habits are called
consumer segments
True or false; targeting a narrower audience allows businesses to focus their efforts on catering to specific customer needs.
true
Any transaction or order made over the Internet, regardless of the method of payment.
e-commerce
Type of survey in which the respondent has no opportunity to clarify a question
mail survey
The group on which businesses spend most of their marketing dollars
primary market
Divides the target market based on socioeconomic class or lifestyle preferences.
psychographics
True or false; finding a niche means you will be free from competition
false
The practice of having the billed amounts automatically withdrawn from a customer's account
automated billing
A toy company watching children playing with toys would be an example of this marketing research method
observational marketing