A market segment that is large enough or profitable enough to serve is ________.

A.

substantial

B.

accessible

C.

profitable

D.

measurable

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Question 2

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________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

A.

Mass customization

B.

Segmentation

C.

Positioning

D.

Differentiation

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Question 3

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________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

A.

Psychographic

B.

Benefit

C.

Demographic

D.

Occasion

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Question 4

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Which of the following exemplifies a service?.

A.

car

B.

candy

C.

retail

D.

laptop

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Question 5

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Which of the following is an example of a convenience product?

A.

life insurance

B.

furniture

C.

diamond ring

D.

fast food

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Question 6

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________ products are those products purchased for further processing or for use in conducting a business.

A.

Shopping

B.

Speciality

C.

Unsought

D.

Industrial

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Question 7

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A firm can obtain new products through acquisition or new product development efforts.

Select one:

True

False

Question 8

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Which of the following is an external source for ideas?

A.

engineers

B.

suppliers

C.

manufacturing staff

D.

salespeople

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Question 9

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Introducing a new product into the market is called ________.

A.

commercialization

B.

simulation

C.

co-marketing

D.

test marketing

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Question 10

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Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of ________ demand.

A.

derived

B.

composite

C.

primary

D.

elastic