Chapter 2 Review

2. Largest group in the workforce currently.
4. Separating a large group of potential customers into smaller groups based on particular characteristics is called ______________________.
7. Scanning of outside influences on an organization.
9. Male/Female
11. Nancy purchased pantyhose to wear to a dance, Nancy is the _______________.
12. Striving to meet your customers needs and wants while making a profit describes the ___________________.
13. Using one plan to market a product to everyone.
16. In the U.S. the most rapidly increasing ethnic group is of Asian descent, this is known as a ________________.
17. Potential customers who share common needs and wants, and the ability to buy the product are called a ________________.
19. They have a strong influence over parents buying decisions
20. African-American, Caucasian, Hispanic, Asian are all examples of this.
22. Producers of milk and bread are interested in this type of income.
24. Faye LaMonte buys staples and masking tape for art projects her children will create. Faye is a(n) __________________.

1. Segmentation by where people live is known as ______________________.
3. A combination of geographic, demographic, psychographic data, and behavioral data.
5. Information about values, attitudes, and lifestyles help marketers segment the market by ________________________.
6. The producers of Tesla automobiles would be interested in changes in this type of income.
8. What makes a company stand out from its competitors
10. This is a very expensive and precise way of segmenting a market.
14. Assessment that analyzes the company.
15. Selecting an appropriate brand name for a new snack food is a product strategy; this strategy is part of the ____________________.
18. When marketers segment specifically to “Baby Boomers” they are segmenting the market by ___________________.
21. This is the process of reaching a specific group of people.
23. Prefers simplicity and easy to understand content.