Target Market Attributes (VCE SSCE Business Management): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is a market?
What is a market?
Customers with similar needs who may buy
Which market type involves professional buyers representing other businesses?
Which market type involves professional buyers representing other businesses?
Business market
What is the main challenge of mass marketing?
What is the main challenge of mass marketing?
It assumes all customers have identical needs
Which segmentation base includes social class and personality traits?
Which segmentation base includes social class and personality traits?
Psychographic
What pricing advantage do niche markets often allow?
What pricing advantage do niche markets often allow?
Premium prices for meeting specific needs
What percentage did online retail spend reach in 2020 according to the note?
What percentage did online retail spend reach in 2020 according to the note?
16.3%
What are 'tweens' in consumer market terms?
What are 'tweens' in consumer market terms?
No longer little children but not yet teens
How many factors influence consumer behaviour according to the note?
How many factors influence consumer behaviour according to the note?
Five
What does the STP framework stand for?
What does the STP framework stand for?
Segmentation, Targeting, Positioning
What distinguishes a product market from a generic market?
What distinguishes a product market from a generic market?
Consumers seek specific items not just any