MIE 201- Exam 4 questions and answers 2024

MIE 201- Exam 4Customer benefits subtracted by customer costs=____________________ - correct answer Value American Girl Manufactures dolls for young girls between the ages 3 to 12. This specific group of consumers is the company's __________________ market. - correct answer Target Which of the following terms accurately describe primary data? A. Compiled by the Census Bureau B. Compiled Externally C. Collected Directly D. Observed Directly - correct answer C D True or False: Secondary data are always compiled outside of an organization - correct answer False If you open a pizza restaurant and assume that all potential customers have similar needs and wants, you are using a _______________-__________________ approach to define your target marget. - correct answer total market Dividing the market into groups whose members have similar characteristics is_____________ _____________________ (2 words) - correct answer Market Segmentation A company has a product that is geared toward 18-21 year-old women, who are all college students. This group would be considered a(n) _______________ segment. - correct answer Market A manufacturer of educational toys for children ages 2 to 4 wants to develop a marketing strategy to focus on just this segment. Which market segmentation approach would the firm most likely use? (2 words) - correct answer Concentration approach