Chapter 9 Study Questions.docx Chapter 9 Study Questions: Â 1. Â Â Â Before selling a new product to a large population of consumers, it is critical that the marketer knows her or his target market. What is a targ
...
Chapter 9 Study Questions.docx Chapter 9 Study Questions:  1.    Before selling a new product to a large population of consumers, it is critical that the marketer knows her or his target market. What is a target market? And why should a marketer know and understand his or her target market? Target market is a sub-market of all customers (existing and potential) who are most likely to buy a firms products. It is important for them to understand their market because those people are most likely to buy the products and keep the company afloat. 2.    What are marketers thinking about when using a geographic approach to segmentation? Explain in general how a marketer would go about segmenting the U.S. population by using a geographic approach. It is a division of an overall market into homogeneous groups based on their locations. And by looking at human populations and determining economic variables, geographic indicators, and migration patterns. Paying close attention to the fastest growing states in the U.S. 3.    What is meant by the word demographic? List five common examples ways to segment using demographic information? How can a marketer research demographic data about the U.S.? Demographics is the division of the overall market into homogenous groups based on rankings. A marketer can research demographic data by scouring the internet. The five common ways to segment demographic info are gender, age, income range, household size, and ethnicity/race. 4.    Describe a fast-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .
[Show More]
