What is one question that a business must answer when identifying a potentially profitable target market?
“What is the reach and frequency of the advertising medium?”
“Does the product have form utility?”
“What are monthly variable expenses?”
“Is the market responsive?”
Which factor should event marketers consider when identifying target markets for specific events?
Behavior
Culture
Attitude
Character
Which situation is an example of a business using niche marketing?
A chemical manufacturer offers a line of hand soap that contains an antibacterial agent.
A national petroleum company offers credit cards for use at its gas and service stations.
An athletic footwear company produces a line of shoes for children who play soccer.
A soft drink manufacturer advertises its product during a national television broadcast.
One aspect of identifying a segment of a sports or event target market involves identifying which component?
Regional trends
Sales forecasts
Heavy users
New vendors
When the Green Company selected its target market, it decided to ignore the segment differences and generate appeal with one offer. The company is using which type of marketing?
Isolated
Niche
Individual
Mass
When a business selects a target market, the most useful or desirable market segments to a business are those that are measurable and which other feature?
Concentrated
Undifferentiated
Accessible
Inflexible
Which statement is true regarding niche marketing?
Marketers tend to consider broad focus to meet the needs of the niche.
Market segments are subgroups of niche markets.
Niche marketers do not often customize their offerings.
Niche markets are small and may attract a few competitors.
Entertainment marketers should identify their target markets after they have carefully examined which component?
Past ticket sales records for similar events
Available data and research about the segment
Retired people with discretionary income
Customized products that fit the needs of the market
