QUIZ: Market Identification and Analysis

1. What is Customer?

2. 4 Reasons why study consumer behavior? (4 pts.)

3. What is Consumer?

4. What is Fundamental Analysis?

5. What is Technical Analysis?

6. What are the components of Market Opportunity Analysis? (5 pts.)

7. Identify who are the end user and customer from the sentence below.(4 pts.)

“You're developing a new memory card that people can use to store large video files. A
tech hardware company purchases your memory cards to sell to its customers, and one
of its customers, a video content creator, buys a memory card to store their video files.”
8. Identify who are the end user and customer from the sentence below. (1 pt.)

“Your company is developing new planning software to make it easier for college
students to stay organized. One student purchases your software to help them manage
their homework, schedule and to-do list.”

9. Give 5 Demographic Characteristics: (5 pts.)

10. Give 5 Behavioral Characteristics: (5 pts.)

11: Give 5 Geographic Characteristics: (5 pts.)

QUIZ: Key Answers

1. What is Customer? (1 pt.)

ANS: A customer always purchases a product or service, but might not be the end
user.
2. 4 Reasons why study consumer behavior? (4 pts.)
ANS: Marketing strategy, Public Policy, Social Media Marketing, A better consumer
3. What is Consumer? (1 pt.)
ANS: Consumer is the one who is the end user of any goods or services.
4. What is Fundamental Analysis? (1 pt.)
ANS: It is most useful for long term investments
5. What is Technical Analysis? (1 pt.)
ANS: It is more useful for short term trading and market timing
6. What are the components of Market Opportunity Analysis? (5 pts.)
ANS: Defining product market boundaries and structure, Describing and analyzing
end users, Industry analysis, Analysis of key competitors, Market sizes estimation
7. Identify who are the end user and customer from the sentence below.(4 pts.)
ANS: In this case, the tech hardware company is your customer, as they purchase the
memory card from you, and the end user is the video content creator who uses the
memory card.
8. Identify who are the end user and customer from the sentence below.(1 pt.)
ANS: Because the student purchased the product and also used it, the student is
both a customer and an end user.
9. Give 5 Demographic Characteristics: (5 pts.)
ANS: Any 5 of the following: Age, Sex, Income, Education, Stages in Life Cycle, Social
Class, Occupation, Religion, Race
10. Give 5 Behavioral Characteristics: (5 pts.)
ANS: Personality, Values, Attitudes, Lifestyles, Interest
11. Give 5 Geographic Characteristics: (5 pts.)
ANS: Any 5 of the following: Rural, Urban, Region, Climate, City Size, Population
Density