BUSA Chapter 10 Test Questions All
Answered Correct 2026 Updated.
consumer market - Answer Buyers who want a product for personal use.
geographic segmentation - Answer Process of dividing a market according to such variables
as climate, region, and population density.
industrial market - Answer Buyers who want a product for use in making other products.
marketing - Answer the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
behavioral segmentation - Answer Process of dividing consumers by behavioral variables,
such as attitude toward the product, user status, or usage rate.
psychographic segmentation - Answer Process of classifying consumers on the basis of
individual lifestyles as reflected in people's interests, activities, attitudes, and values.
marketing concept - Answer Basic philosophy of satisfying customer needs while meeting
organizational goals.
demographic segmentation - Answer Process of dividing the market into groups based on
such variables as age and income.
target market - Answer Specific group of customers who should be interested in your
product, have access to it, and have the means to buy it.
market segment - Answer Group of potential customers with common characteristics that
influence their buying decisions.
marketing strategy - Answer Plan for selecting a target market and creating, pricing,
promoting, and distributing products that satisfy customers.
, The individuals or organizations that need a product and are able to buy it are called your
________________. - Answer target market
You just invented a super light, but highly effective, snow shovel that appeals to older people.
Which two segmenting variables would be most important in identifying your target market? -
Answer Geographic and demographic
Marriott International offers 28 hotel and resort brands from the luxury Ritz-Carlton to the
upper midscale Fairfield Inn's. Which branding approach is Marriott using? - Answer
Multibranding
After identifying a target market, your next step is developing and implementing a marketing
program designed to reach it. This program involves a combination of tools called the marketing
mix, often referred to as the "four Ps" of marketing. Which of the following is not a part of the
marketing mix? - Answer Producing the product
Poag and McEwen Lifestyle Center is the industry leader in "lifestyle centers," neighborhood
shopping centers that are reminiscent of downtown-style shopping of yesteryear. The company
is considering developing a "Promenade Lifestyle Center" in Center Valley, Pennsylvania. To aid
in its decision, the company will review census data to determine income levels of possible
shoppers and assess the likelihood that the surrounding area will grow in the near future. This is
an example of ______________. - Answer use of secondary data
Although hula-hooping has been a form of play and exercise from as early as 500 B.C., it wasn't
until the late 1950's that a plastic version of the hula hoop was marketed by Wham-O Toy
Company. A fad was started and 25 million plastic hoops were sold in less than four months. A
decision by Wham-O to initially charge a high price for its hula hoop but later drop the price as
others entered the market suggests that the company was practicing: - Answer skimming
pricing
You are a product designer for Built New York, a NY company that designs fashionable and
functional bags, totes, and cases (including one-bottle and two-bottle wine totes). You just
finished designing a laptop backpack and it is now time to work with the team to decide how to
price it. After reviewing the competition, you decide that the laptop backpack could be sold to
customers for $50 and to retailers for $25 (who will mark it up to $50). The company's
accountant reminds you that each product must generate a profit of $10. This means that you
can spend $15 ($25 selling price to retailer less $10 profit) to make each laptop backpack. You
are using which pricing method? - Answer Target costing
Answered Correct 2026 Updated.
consumer market - Answer Buyers who want a product for personal use.
geographic segmentation - Answer Process of dividing a market according to such variables
as climate, region, and population density.
industrial market - Answer Buyers who want a product for use in making other products.
marketing - Answer the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
behavioral segmentation - Answer Process of dividing consumers by behavioral variables,
such as attitude toward the product, user status, or usage rate.
psychographic segmentation - Answer Process of classifying consumers on the basis of
individual lifestyles as reflected in people's interests, activities, attitudes, and values.
marketing concept - Answer Basic philosophy of satisfying customer needs while meeting
organizational goals.
demographic segmentation - Answer Process of dividing the market into groups based on
such variables as age and income.
target market - Answer Specific group of customers who should be interested in your
product, have access to it, and have the means to buy it.
market segment - Answer Group of potential customers with common characteristics that
influence their buying decisions.
marketing strategy - Answer Plan for selecting a target market and creating, pricing,
promoting, and distributing products that satisfy customers.
, The individuals or organizations that need a product and are able to buy it are called your
________________. - Answer target market
You just invented a super light, but highly effective, snow shovel that appeals to older people.
Which two segmenting variables would be most important in identifying your target market? -
Answer Geographic and demographic
Marriott International offers 28 hotel and resort brands from the luxury Ritz-Carlton to the
upper midscale Fairfield Inn's. Which branding approach is Marriott using? - Answer
Multibranding
After identifying a target market, your next step is developing and implementing a marketing
program designed to reach it. This program involves a combination of tools called the marketing
mix, often referred to as the "four Ps" of marketing. Which of the following is not a part of the
marketing mix? - Answer Producing the product
Poag and McEwen Lifestyle Center is the industry leader in "lifestyle centers," neighborhood
shopping centers that are reminiscent of downtown-style shopping of yesteryear. The company
is considering developing a "Promenade Lifestyle Center" in Center Valley, Pennsylvania. To aid
in its decision, the company will review census data to determine income levels of possible
shoppers and assess the likelihood that the surrounding area will grow in the near future. This is
an example of ______________. - Answer use of secondary data
Although hula-hooping has been a form of play and exercise from as early as 500 B.C., it wasn't
until the late 1950's that a plastic version of the hula hoop was marketed by Wham-O Toy
Company. A fad was started and 25 million plastic hoops were sold in less than four months. A
decision by Wham-O to initially charge a high price for its hula hoop but later drop the price as
others entered the market suggests that the company was practicing: - Answer skimming
pricing
You are a product designer for Built New York, a NY company that designs fashionable and
functional bags, totes, and cases (including one-bottle and two-bottle wine totes). You just
finished designing a laptop backpack and it is now time to work with the team to decide how to
price it. After reviewing the competition, you decide that the laptop backpack could be sold to
customers for $50 and to retailers for $25 (who will mark it up to $50). The company's
accountant reminds you that each product must generate a profit of $10. This means that you
can spend $15 ($25 selling price to retailer less $10 profit) to make each laptop backpack. You
are using which pricing method? - Answer Target costing
