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Question 1

can be defined as the potential buyer of the product.

Answer 1

Target Market-

Question 2

Set of customers whose needs the organization plans to satisfy.

Answer 2

Target Market-

Question 3

2 types

Answer 3

Business-to-business markets
Business-to-consumer markets

Question 4

Potential buyers

Answer 4

Target Market-

Question 5

4 factors of business to business

Answer 5

Target Market-
Frequency of product purchase-
Tendency for replacement
Estimates of market size,

Question 6

How often do they buy the products or avail of the services.

Answer 6

Frequency of product purchase-

Question 7

focus on one brand or
shifting to other brands.

Answer 7

Tendency for replacement

Question 8

-Focus on one location, the population, and the potential buyers.

Answer 8

Estimates of market size,

Question 9

Business-to-consumer markets include:

Answer 9

Demographic factors,
Psychographic factors of
Behavioral factors

Question 10

5 factors of demographic

Answer 10

Income level-
Age range-
Gender-
Educational level
Ethnicity-

Question 11

5 Psychographic factors of the target markets.

Answer 11

Personality traits-
Lifestyle
Attitudes-
Virtues
Beliefs-

Question 12

Personality traits-

Answer 12

-Openness to experience-
- Neuroticism-
- -Agreeableness-
- -Conscientiousness-
- -Extroversion

Question 13

traits, habits,

Answer 13

-Openness to experience-

Question 14

Changing emotions, mental, emotional, physical reactions.

Answer 14

Neuroticism-

Question 15

behavioral characteristics as kind, sympathetic, cooperative,
warm, and considerate.

Answer 15

-Agreeableness-

Question 16

relating to person’s conscience

Answer 16

-Conscientiousness-

Question 17

Social and Outgoing, Focus on the outside world.

Answer 17

-Extroversion-

Question 18

The way in which the person or group lives.

Answer 18

-Lifestyle-

Question 19

set of emotions, result of experience or upbringing

Answer 19

Attitudes-

Question 20

behavior showing moral standards.

Answer 20

Virtues-

Question 21

-the state of wanting to know or learn about something or someone.

Answer 21

Interests

Question 22

your faith, acceptance,

Answer 22

Beliefs-

Question 23

frequency of product purchase and shopping behavior of the target
market
a. Daily, weekly, monthly purchases
b. Bulky or by piece.

Answer 23

Behavioral factors

Question 24

5 Categories of consumer:

Answer 24

Price Shoppers-
Brand-Loyal Customers-
Status seekers-
Service or Feature Shoppers-
Convenience shoppers-

Question 25

This group interested in the best deal for a product. They are commonly
called the Practical and price conscious.

Answer 25

Price Shoppers-

Question 26

this group believes that their present brands are superior to
others and are willing to pay fair prices for products just to acquire.

Answer 26

Brand-Loyal Customers-

Question 27

People who are interested in prestigious or called(signature) brands or
known product categories and willing to pay at any price.

Answer 27

Status seekers-

Question 28

group seeks a high value on customer service and
product features and will pay for them.

Answer 28

Service or Feature Shoppers-

Question 29

People who value nearby locations, long store hours and are
willing to pay for easier shopping.

Answer 29

Convenience shoppers-

Question 30

“If you don’t know what to do with your life, do something that saves lives.
The world is full of people in need be the part of their life that fills that need”

Answer 30

-Sanjeev Saxena

Question 31

Customer-Focused Business Strategy:

Answer 31

Develop customer-Focused business Strategy
Listening to the various customer complaints.
Learn how to identify customer segments.
Present findings to participants.

Question 32

establishes the relationship between the organization and the customer.
(Example: I need (or want an iPad)

Answer 32

customer need

Question 33

those characteristics that determine whether or not the
customer is

Answer 33

Customer requirement

Question 34

is anyone who requires the output(s) of
your process.

Answer 34

customer