BUS 100 Midterm Exam with Answers
Demographic - ✔✔Divides the market into groups based on variables such as age, marital
status, gender, ethnic background, income, occupation, and education.
Geographic - ✔✔Dividing a market according to variables such as climate, region, and
population density (urban, suburban, small-town, or rural).
Psychographic - ✔✔Classifies consumers based on individual lifestyles, reflected in interests,
activities, attitudes, and values.
Behavioral - ✔✔Dividing consumers by variables such as attitude toward the product, user
status, or usage rate.
Volume - ✔✔Dividing a market based on the amount of product usage, distinguishing
consumers as heavy, medium, or light users to tailor marketing efforts accordingly.
Planning - ✔✔The process in which managers set goals and determine the best way to achieve
them.
Organizing - ✔✔The process of arranging resources and tasks to achieve the organization's
goals efficiently and effectively.
Leading/directing - ✔✔The process of providing focus and direction to others, motivating them
to work toward achieving the organization's goals.
Controlling - ✔✔The process of comparing actual performance to planned performance and
taking necessary corrective actions to ensure that organizational goals are achieved.
Sole proprietorship - ✔✔A business owned by only one person.
Demographic - ✔✔Divides the market into groups based on variables such as age, marital
status, gender, ethnic background, income, occupation, and education.
Geographic - ✔✔Dividing a market according to variables such as climate, region, and
population density (urban, suburban, small-town, or rural).
Psychographic - ✔✔Classifies consumers based on individual lifestyles, reflected in interests,
activities, attitudes, and values.
Behavioral - ✔✔Dividing consumers by variables such as attitude toward the product, user
status, or usage rate.
Volume - ✔✔Dividing a market based on the amount of product usage, distinguishing
consumers as heavy, medium, or light users to tailor marketing efforts accordingly.
Planning - ✔✔The process in which managers set goals and determine the best way to achieve
them.
Organizing - ✔✔The process of arranging resources and tasks to achieve the organization's
goals efficiently and effectively.
Leading/directing - ✔✔The process of providing focus and direction to others, motivating them
to work toward achieving the organization's goals.
Controlling - ✔✔The process of comparing actual performance to planned performance and
taking necessary corrective actions to ensure that organizational goals are achieved.
Sole proprietorship - ✔✔A business owned by only one person.
