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MCQ QUESTIONS 1)

Companies that sell to other companies are called

A) B2C

B) B2B

C) C2C

D) none of the above

2) Which of the following is true about a target market?

A) it represents a limited customer base

B) it can be based on buying patterns

C) it can include more than one market segment

D) all of the above

3) Facts about consumers that relate to their beliefs, lifestyle, and personal preferences are called

A) demographics

B) geographics

C) psychographics

D) all of the above

4) To sell your product to a mass market means

A) to target as many consumers as possible with your marketing efforts

B) to amass as many consumers as possible

C) to choose the right target markets

D) to use a small marketing budget

5) A customer profile is

A) a collection of demographic data

B) a detailed description of your target market's characteristics

C) a detailed description of a single customer

D) a collection of psychographic data

True or False Questions

1) For a small business, the mass-market approach is the best strategy.

2) A target market often includes more than one market segment.

3) A market segment is a group of consumers within a particular market that have something in common.

4) Psychographic data can only be collected for people, not businesses.

5) The fact that more people buy flowers around Mother's Day is a buying pattern.

2 Exercise

1. Star Stone Company invests $3000 per year in inventory. If the company made 30 inventory purchases in a year, what is average Inventory investment?

2. If total cost of inventory $16,000 and average inventory investment is $800, what is inventory turnover?

3. Compare different inventory systems

4. Controlling inventory contributes to good inventory management, explain.

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