An aggregate of people who, as individuals, have needs for products in a product class and have the ability, willingness and authority to purchase such products is called a: A)market segment B)target market C)customer group D)market

An aggregate of people who, as individuals, have needs for products in a product class  and have the ability, willingness and authority to purchase such products is called a:
A)market segment
B)target market
C)customer group
D)market
by

1 Answer

Answer :

D)market
by

Related questions

An aggregate of people who, as individuals, have needs for products in a product class and have the ability, willingness and authority to purchase such products is called a : 1. market segment 2. target market 3. customer group 4. market 5. none of these

Description : An aggregate of people who, as individuals, have needs for products in a product class and have the ability, willingness and authority to purchase such products is called a : 1. market segment 2. target market 3. customer group 4. market 5. none of these

Last Answer : market

If marketing research shows that an aggregate of people do not desire a particular product, the people in that aggregate: A) are a market for the product B) do not have the ability to purchase the product C) do not have the authority to purchase the product D) are not a market for the product E) are a market but will not purchase the product

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Last Answer : D) are not a market for the product

The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B)developing marketing objectives to meet organisation goals C)deciding how to organise the marketing department to meet customer needs. D)developing a marketing mix that precisely meets the needs of individuals in the target market.

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Last Answer : D)developing a marketing mix that precisely meets the needs of individuals in the target market.

If marketing research shows that an aggregate of people do not desire a particular product, the people in the aggregate : 1. are a market for the product 2. do not have the ability to purchase the product 3. do not have the authority to purchase the product 4. are not market for the product 5. are a market but will not purchase the product

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Last Answer : are not market for the product

The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called: A)segmenting B)differentiating C)target marketing D)concentrating

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The importance of price to a particular target market depends on the type of product, the type of target market, and the A)state of the economy. B)availability of substitute products. C)purchase situation. D)amount of discretionary income in the target market.

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Last Answer : C)purchase situation.

Walton Food Products decided to use agents to reach industrial accounts several years ago. Logically, this decision was based on which one of the following? A)Steady demand for the firm's products B)Walton's desire to stay close to its customers C)Walton's desire to reduce selling costs D)The willingness of agents to provide market information

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Last Answer : C)target public.

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Last Answer : D)total market and market segmentation approaches

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Last Answer : A)responding to the marketing environment

he consumer movement is: A)against foreign imports that are much cheaper than products produced in the home market B)a movement that is trying to improve consumer satisfaction C)a social movement that is able to challenge big business practices D)a diverse group of individuals, groups and organisations attempting to protect the rights of consumers

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Last Answer : D)it moves buyers closer to adopting a product.

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An attribute of a product that is desired by customers in a target market and which competing products cannot match is termed ____________ A)a strength B)a differential advantage C)a selling point D)a benefit

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Historically, Knox PLC sold industrial clamps directly to firms using these items in their production process. Knox's Chairman believes that it may be time to start using an industrial distributor because of the ability of such firms to: A)provide Knox with market information. B)supply technical information to Knox. C)provide customers with more competitive pricing. D)carry a more complete line of Knox clamps. E)market the products to Knox specifications.

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Which one of the following statements by a company chairman best reflects the marketing concept? A)We have organised our business to make certain that we satisfy customer needs. B)We believe that the marketing department must organise to sell what we produce. C)We try to produce only high quality, technically efficient products. D)We try to encourage company growth.

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Last Answer : A)competitive products lack.

Who are People with unsatisfied wants and needs who both have the ability and willingness to buy are?

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Last Answer : market

Which of the following is the MAIN advantage of multivariable segmentation: A)provides more information about the individuals in each segment B)allows the company to develop a marketing mix that will satisfy customers in a segment more precisely C)allows the company to develop a larger number of segments D)allows more than one variable to be used to segment markets

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Before contacting acceptable prospects, a salesperson for an industrial cleaning equipment company analyzes information about the prospects' product needs, feelings about brands, and personal characteristics. This process is called A)prospecting. B)preparing. C)approaching the customer. D)sales training. E)sales planning.

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Last Answer : e. Size customers

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Last Answer : A)directs the flow of products from producers to customers.

The strategy of identifying an attractive market segment and serving it in a way that differentiates the retailer from others in consumers' minds is termed: A)product positioning B)niche retailing C)retail positioning D)merchandise policy

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Last Answer : C)derived

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Last Answer : A)bring buyers and sellers from different countries together and collect a commission for arranging sales.

The purpose of market segmentation is to: A)differentiate among similar products B)divide the total market to allow the marketer to develop a more precise marketing mix C)reduce the overall cost of marketing activities D)identify a single marketing mix that will be satisfy market segments E)meet the needs of homogeneous markets

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Last Answer : B)divide the total market to allow the marketer to develop a more precise marketing mix

The marketing concept is a philosophy that states that an organisation should try to satisfy customers' needs and at the same time: A)increase market share. B)increase sales. C)achieve the organisation's goals. D)always produce high E)quality products.

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Last Answer : C)achieve the organisation's goals.

All elements of the marketing mix are influenced by physical distribution functions. For this reason, it is important for marketers to remember that A)physical distribution decisions must be made prior to any other marketing strategy consideration. B)physical distribution costs often rise as customer service requirements decrease. C)over 75 percent of all marketing costs are associated with physical distribution expenditures. D)no single distribution system is ideal for all situations and target markets.

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Last Answer : D)no single distribution system is ideal for all situations and target markets.

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Last Answer : D)situational

The amount of product that would be purchased by specific customer groups within a specified time period at a specific intensity of industry marketing activities is called: A)maximum sales potential B)trend analysis C)forecasted sales D)market potential

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Last Answer : D)market potential

Objective of marketing is ______________ 1. Target market 2. Fulfil needs 3. Integrated Marketing4. Profit by customer satisfaction 5. All of the above

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A waiter in a fine restaurant has the authority to give a complimentary dessert to a dissatisfied customer when the customer complains about the meal or service. This is an example of A)benchmarking. B)good training. C)empowerment. D)localised authority.

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Which of the following statements concerning motivating marketing personnel is FALSE? A)Management must discover employees' needs and then develop motivational methods. B)Motivational methods should be fair, ethical, and well -understood by employees. C)Selecting effective motivational tools becomes easier as the work force becomes less diverse. D)Rewards to employees must be tied to organisational goals. E)Managers must use different tools to motivate different individuals.

Description : Which of the following statements concerning motivating marketing personnel is FALSE? A)Management must discover employees' needs and then develop motivational methods. B)Motivational methods should ... to organisational goals. E)Managers must use different tools to motivate different individuals.

Last Answer : C)Selecting effective motivational tools becomes easier as the work force becomes less diverse.

Which sales forecasting technique would generally be most suitable for estimating the sales of a new product? A)Executive judgment B)Customer surveys C)Time series analysis D)Market tests E)Regression methods

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Last Answer : D)Market tests