NY “Finding Your Focus: Niche Marketing for Real Estate” Questions only (no answers)
Answers will be revealed with proper subscription

1. Each strategic business plan must identify “driving forces” that can influence its success. Which of the following is not included in the “driving forces” of a business?
a. Cost of raising capital
b. Qualitative factors, such as results or experience
c. Motivating others to perform
d. Defining a clear vision and mission for entering into the new segment

NY Finding Your Focus: Niche Marketing for Real Estate

2. The major difference between Mass Marketing and Niche Marketing is:
a. Products or services offered.
b. Strategy.
c. Budget.
d. None of the above.
3. Which is NOT one of the four viewpoints to consider when forming your business strategy?
a. Environmental view
b. Marketplace view
c. Panoramic view
d. Project view
4. It costs the average business about five times more to obtain a new customer than to maintain the relationship with an existing customer. What is this known as?
a. Kotler’s Idea
b. Traditional Marketing
c. Supply and demand
d. Sales versus marketing
5. Which of the following statements is FALSE about strategy formulation?
a. Strategic formulation is best done by hiring an external consultant to develop the strategic plan
b. Assessing the environment is an important factor.
c. It involves analyzing core competencies
d. Creating goals and action plans are included in strategy formulation.
6. When you engage in niche marketing, you are looking to become:
a. The big fish in a big pond
b. The small fish in a big pond
c. The small fish in a small pond
d. The big fish in a small pond
7. By increasing your ________________, you will start to become more aware of what motivates people, how to solve problems more effectively, and how to distinguish between alternatives.
a. Level of spending
b. Powers of observation
c. Focus and planning
d. Internal temperature
8. How was Toyota successful in creating a niche for environmentally-friendly cars?
a. They were first to market
b. They marketed in media outlets with an environmentally conscious audience
c. They promoted the car through environmental groups
d. All the above
9. In Real Estate, what is the most successful component of your business:
a. Marketing strategy
b. Niche Marketing Plan
c. You
d. Location
10. Mass Marketing is the opposite to Niche Marketing. Niche Marketing focuses on:
a. Mass media
b. Products and services which appeal to the whole market
c. A very specific segment of market
d. High sales and low prices
11. What is an important element to understanding the nature of strategic planning?
a. A thorough thought process is important.
b. Be sure to share it with a trusted advisor.
c. To recognize the difference between strategy formulation and implementation
d. Once you have made a plan, never change it.
12. In order to create a Niche Marketing Plan you will need to think about several topics. Which topic listed will you need to really think about?
a. Your own personality
b. Current business processes
c. Conducting market research
d. All of the answers shown
13. The planning and decision making that goes into developing a company’s strategic goals and plans is known as:
a. Strategy formulation
b. Strategy implementation
c. Mass Marketing
d. Facilitating communications
14. Which is most important to do with niche marketing?
a. Make sure your audience knows you can also do other thing things besides what’s in your niche
b. Establish yourself as the expert in the niche
c. Stay focused on the niche and avoid expanding
d. Be all things to all people
15. Choose the statement that is TRUE.
a. The terms strategic formulation and strategic implementation can be used interchangeably.
b. Strategic formulation happens before strategic implementation
c. Strategic formulation involves building execution teams.
d. Strategic formulation involves making structural changes.
16. When developing a niche marketing plan, the most important things to consider are:
a. The demographics of area
b. The types of homes in the area
c. Your own strengths, personality and career history
d. Market trends
17. Mass marketing is ____________________ niche marketing.
a. More profitable than
b. Easier than
c. The opposite of
d. More cost efficient than
18. How does Niche Marketing help any business carve out a unique identity for itself?
a. Offering as many products to as many people as possible is key.
b. Niche Marketing appeals to the whole market by focusing on a wide variety of products.
c. Having a niche allows your business to be the “go to” man or woman in a particular area of your field.
d. Concentrating on more than one area of expertise will help any business create an identity for itself.
19. Why is it most important to develop a Niche Marketing Plan?
a. Researching available opportunities is important for any business.
b. Understanding your own vision and business goals can be the difference between success and failure.
c. Niche Marketing Plans deter creativity and imagination, which is key for a successful business plan.
d. There is no need to develop a Niche Marketing plan.
20. Which of the following statements best explains strategic implementation?
a. It involves a strength-weakness analysis of the business.
b. It involves assessing the competition.
c. It involves hiring a business consultant for finalizing the strategic plan.
d. It refers to execution of the strategic plan.
21. Which of the following is TRUE regarding “ideal position” in niche marketing?
a. It denotes the ideal space in the market that the business would like to capture after having evaluated its strengths and opportunities
b. It describes the strategies the business needs to implement to reach its goals
c. It requires certain core competencies to be developed
d. All of the answers shown
22. What new stage of marketing emerged in the 1980s?
a. Billboard
b. Relationship
c. Social
d. In-your-face
23. Mapping out your Niche Marketing Plan serves the purpose of allowing you to:
a. Create a one-time use business and marketing tool.
b. Make mistakes on paper before making them in wasted dollars and time.
c. Create a document to show clients.
d. Niche Marketing Plans do not have an important purpose.
24. Who offers a list of five criteria to help you define your ideal outcome, through strategic thinking?
a. E-commerce
b. The Essential Foundation
c. Small Business Association (SBA)
d. Mass Marketing Companies
25. Which of the following is part of the “strategic viewpoint” used while evaluating a niche segment for your business?
a. Prevailing general economic conditions
b. Industry dynamics
c. How the success of the implementation plan will be measured
d. All of the answers shown
26. To be a successful business owner and an effective market leader, it is critical to develop:
a. You do not need to develop anything.
b. Problems
c. Mass marketing strategies
d. Strategic thinking skills
27. When researching, where is the best place to go to figure out what people want?
a. Search the internet for search trends and market research reports
b. Ask past buyers.
c. Conduct a survey in your community.
d. Find books and periodicals on the subject.
28. Which of the following represent a threat to a business?
a. Decline in target population age group
b. Increase in Customer loyalty
c. Lower taxes
d. All of the answers shown
29. Which of the following may be regarded as a business strength in creating a new niche?
a. Absence of expertise
b. Being a leading provider in the segment
c. Inaccessibility of certain markets because of higher taxes
d. High customer attrition
30. Which of the following sources can be targeted as a continued source of referrals for your real estate business?
a. Accountants
b. Teachers
c. Athletes
d. Police Officers
31. What are the core components of the 6C approach?
a. Customers; Economic Climate; Competitors; Collaborators; Company; Competitive advantage
b. Customers; Cost; Competitors; Collaborators; Company; Collection of clients
c. Macro-environmental Climate; Cost; Competitors; Collaborators; Company; Customer Surveys
d. Macro-environmental Climate; Cost; Competitors; Collaborators; Company; Change
32. What type of buyer may want to use the property only part time and rent it out for income when they are not there?
a. Vacation Home Buyer
b. First Time Buyer
c. Internet Buyer
d. Luxury Home Buyer
33. Which of the following statements is FALSE about first-time buyers?
a. You should be ready to advise first-time buyers on financing, inspections and just about every facet of the transaction.
b. Developing marketing and transaction information materials is a great way to target this segment.
c. It is easier to make higher commissions from first time buyers.
d. They can be a huge source of future repeat business and referrals.
34. Which of the following is a business weakness in creating a new niche?
a. Less competition
b. Lower trade taxes in the industry
c. Improvement in trade relations with a neighboring country
d. Poor distribution presence of a retail business
35. What are the primary benefits of doing market research before finalizing a niche?
a. Identifying demand
b. Identifying USP
c. Identifying competition
d. All of the answers shown
36. Which of the following is a good example of demographic based niche marketing strategy?
a. Investment real estate
b. Handling estate settlement for divorced couples
c. Commercial real estate
d. All of the above
37. Which of the following categories can be used to create a niche in real estate?
a. Type of property
b. Basic demographics such as age, income
c. Mode of selling – referral/ internet based
d. All of the answers shown
38. By doing your research, and seeing which niche topics are selling online, you will be able to
a. Eliminate risks by narrowing successful Niche strategies.
b. Choose the niche topics that are not selling online for your own benefit.
c. You do not need to do online research.
d. Only sell to Internet Buyers.
39. Which of the following statements on targeting resort and vacation homes do you agree with?
a. People see no value in vacation homes when the economy is down
b. It has become increasingly impossible for people to invest in vacation homes and therefore it’s not a good niche segment to focus at
c. A good internet marketing strategy can reap rewards in this niche segment
d. All of the answers shown
40. What kind of strategy would be wise to use if you want to create your niche around vacation homes?
a. Guerilla marketing
b. Internet marketing
c. Local referral marketing
d. Direct mail to affluent people in the area
41. What percentage of Internet buyers end up working with the first web agent that contacts them?
a. 15%
b. 30%
c. 45%
d. 70%
42. The percentage of the net profit of a luxury home can be similar to lower priced homes. Why is this?
a. The commission is not always high on luxury homes.
b. Luxury homes often require special promotion venues and hence a higher marketing budget.
c. The luxury homes niche does not do well.
d. Selling luxury homes is a difficult task.
43. What does the business abbreviation SWOT represent?
a. Saved, Worthy, Old, and Threatened
b. Superior, Wealthy, Opportunistic, and Trust
c. Strengths, Weakness, Opportunities and Threats
d. None of the answers shown
44. Which of the following is recommended to help create a niche market with baby boomers?
a. Register with AARP
b. Get a SRES® designation
c. Create a pull-through strategy from grown kids to parents
d. Become an Elvis impersonator
45. 55 Million households are headed by unmarried individuals. When assisting these unmarried individuals, be sure to acknowledge
a. The opportunities these buyers bring forward.
b. The differing needs of these single heads of households.
c. Cost.
d. All of the above
46. Which of the following best describes situational analysis?
a. Assessing the macroeconomic factors that prevail in the country
b. Assessing the competition that exists
c. Evaluating all external / internal vectors that can impact the business
d. Evaluating the core competencies of the real estate firm
47. It can be said that a ‘niche strategy’ becomes your calling card in the real estate business. Which of the following is not an immediate benefit of a niche segment strategy?
a. It focuses your advertising on a specific segment of the population.
b. It makes it easier to get referrals of potential clients.
c. It immediately improves profits.
d. It improves top-of-mind recall of your business.
48. The 6 C Analysis formula focuses on 6 key areas, which are
a. Somewhat important to a business.
b. Used if a business gets in financial trouble.
c. Critical to any business.
d. Not important at all to a business.
49. For Sale By Owner Properties really don’t have the ability to successfully market their home and will decide to list with a real estate professional. What is the first thing you can do, as the real estate professional, to help the seller?
a. Disregard For Sale By Owner Properties
b. Structure a marketing plan for the seller
c. Solely focus on Resort and Vacation homes
d. Discuss pricing
50. Choose the following factor that can be classified as part of psychographics, for identifying a niche in real estate?
a. Income level
b. Marital status
c. Interests/hobbies
d. None of the answers shown
51. Which of the following is a good referral niche?
a. Medical professionals
b. Attorneys
c. Non-profits
d. All of the above
52. Which of the following factors should be evaluated by business owners in order to determine their possible niche?
a. Area of interest
b. Academic / professional qualifications
c. Position of competitive strength
d. All of the answers shown
53. Choose the following statement about condominium buyers that is FALSE.
a. There has been a huge growth in the number of condominiums in the last decade.
b. Several potential owners in this segment are investors.
c. The niche opportunity lies in helping buyers select the most rentable properties.
d. There is little scope for future repeat business and referrals in this segment.
54. Technological advances create potential for
a. Threats to the business
b. A new niche
c. A decrease in customers
d. None of the answers shown
55. Making the most of your time and avoiding time-wasting activities is critical to your success. What is this known as?
a. Accountability
b. Networking
c. Time Management
d. Value
56. Peaks and valleys occur in your work because:
a. When you’re busy doing the work, you’re not creating the work
b. When you’re busy creating the work, you’re not doing the work
c. You find yourself in a vicious cycle of work, work, work – manage, manage, manage
d. All of the above
57. When properly applied, the 80-20 Rule and a Niche Marketing Plan can help you manage
a. Customer expectations.
b. The 80-20 Rule and Niche Marketing Plan do not help manage anything.
c. The peaks and valleys of your business.
d. Sales.
58. Which of the following social media tools can a real estate company use to promote its business?
a. Contests on Facebook
b. Pay Per Click (PPC) ads
c. YouTube videos
d. All of the answers shown
59. Which of the following is NOT the best source of professional networking with other business owners?
a. LinkedIn
b. Attending business events
c. Meeting existing customers
d. Becoming a member of a business group in the area
60. Which of the following is NOT an expected benefit of having an efficient business system?
a. An efficient system reduces costs of servicing clients.
b. An efficient system allows employees to be more accurate in delivering services to their clients.
c. An efficient system improves employee productivity.
d. An efficient system stops the competition getting a foothold in the market.
61. What type of posts are your social media followers most likely to share?
a. Simple text content
b. Simple listing information
c. Rich, interactive content
d. Followers are unlikely to share your content; you need to push it out
62. Which of the following would NOT be a good time-management technique?
a. Keeping a clock on your desk to remind you of the time spent on a task
b. Trying to address every aspect of your business every day
c. Writing “to-do” lists on sticky notes
d. None of the answers shown
63. The 80-20 Rule is also known as what?
a. Pareto’s Principle
b. Work Smarter Not Harder
c. Strauss’ Principle
d. 80-20 Law of Many
64. The instructor of this course advises every client and every agent to build their business as if:
a. It will become a huge corporation with multiple departments, all intended to run without you
b. It will double in size within 2 years and to be prepared for that kind of growth
c. It were fragile, so that you care for it and nurture it daily, to ensure it grows and doesn’t fall victim to unnecessary risks.
d. All of the above
65. Which of the following statements on succeeding in real estate business is FALSE?
a. Real estate business owners must balance meeting requirements of existing clients and business promotional efforts to attract new customers
b. A good marketing plan can result in more sales in the long run
c. Blogs are an important tool to validate your subject matter expertise
d. Real estate business owners should only focus on servicing existing clients
66. Which of the following marketing methods can be used for free?
a. Facebook
b. Zillow.com
c. Realtor.com
d. All the above
67. How much time should you schedule to react and respond to comments on your social media?
a. An hour a week
b. At least 30 minutes a day
c. 2 – 3 hours per business day
d. One day out of each month
68. Virtual tours, REALTOR.com, and Pay Per Click are all examples of
a. Places not to market online.
b. How to syndicate your niche marketing online.
c. Expensive ways to market.
d. Free ways to market.
69. When working on time management skills, what two types of time should you block your day into?
a. Education and Personal
b. Business and Mental
c. Social and Financial
d. Personal and Business
70. All REALTORS® should use technology to their advantage. Which management tool would help REALTORS® with technology use?
a. Periodicals from ten years ago
b. Client feedback
c. Advertising
d. Technology Tools on the National Association of REALTORS® website
71. Which of the following is NOT a characteristic of a collaborative business-vendor relationship?
a. Using each other’s networks for tapping more business
b. Trusting vendors with confidential business information
c. Vendor sponsoring a customer event for the business
d. Mutual accountability for meeting business goals, which may involve streamlining processes on both sides
72. According to Susan Friedman, author of Riches in Niches, “Credibility occurs when you’re _______________ in your ‘niche’ industry, community or geographic region.”
a. Comfortable
b. Visible
c. Promoting yourself
d. Expanding
73. What does the 80-20 rule in business suggest?
a. 80% of your revenue will come from 20% of your clients
b. 20% of your cost items will contribute to 80% of your expenses
c. 20% of your sales staff will contribute 80% of the sales
d. All of the answers shown
74. According to Susan Friedman, author of Riches in Niches, “People pay more for services from ______________________.”
a. perceived ‘experts’ than generalists
b. Well-known established experts
c. People they’ve heard about on social media
d. People who at least pretend to know it all
75. Which is recommended for marketing your niche?
a. Partner with your vendors as an extension of your team
b. Ask vendors to highlight you in their blogs
c. Create a guest feature video on vendor websites or blogs
d. All of the above
76. Social Media is an effective tool because it helps real estate businesses
a. Extend their customer reach.
b. Do business with Internet Buyers.
c. Social Media is not an effective tool for real estate businesses.
d. Become competitive in the market.
77. 90% of all buyers search online, using a search engine, before even contacting a real estate agent. Which marketing tool would make the most sense to use due to this statistic?
a. Virtual Tours
b. REALTOR.com
c. Facebook
d. Twitter
78. Which of the following is the number one marketing tool available to a real estate firm that wants to market itself?
a. Business website
b. Business cards
c. Personal networking
d. Billboards
79. Which of the following statements on cloud-based project management systems (like Norada/Solve 360) is FALSE?
a. These systems are not for everyone since they can be complicated.
b. These systems can facilitate access to business information by employees anywhere via the internet.
c. These systems help a business manager send emails and assign projects to team members.
d. These systems make it easier to record information about clients.
80. Once you’ve discovered how the 80-20 rule affects your business, what is the next step?
a. Figure out how to remove the 80%
b. Work to change it over time to 70-30
c. Work to diminish the negative effects of the 80%
d. Find out who or what is responsible for the 20% and spend your time on that
81. What marketing tool can exponentially increase your reach without costing a dime?
a. Directional sign to a property on busy street corner
b. TV ads
c. Social media
d. All the above
82. Any time you’re in a business with a specific customer Niche, which type of advertising is a must for success?
a. Pay Per Click
b. Print
c. Broadcast
d. There is no need to advertise.
83. Facebook, Twitter, LinkedIn, YouTube, and Pinterest are all
a. Used for marketing purposes, but not in the real estate business.
b. Helpful to a few businesses.
c. A waste of time.
d. Crucial ingredients in marketing.
84. Which of the following statements on using demographics to develop a niche for your real estate business is CORRECT?
a. Unmarried individuals will likely have different selection criteria compared to families
b. Marital status of the buyer does not influence their buying criteria
c. Income is not a good basis for developing a niche
d. None of the answers shown
85. An alternate name for the Pareto Principle is:
a. The 80-20 Principle
b. Murphy’s Law
c. Law of the Land
d. The 80-20 Rule
86. Once you have a list of possible niche topics, you need to see which ones ______.
a. Are dud markets.
b. Have profit potential.
c. Are sustainable, long-term markets.
d. All of the above
87. Which of the following tools are recommended for a comprehensive situational analysis of a niche segment?
a. The 5 C’s (later the 6 C’s)
b. Internet keyword search
c. Speaking to a few peers
d. None of the answers shown
88. Niche Marketing is primarily about
a. Money
b. Competition
c. Focus
d. Mass Marketing
89. Which of the following statements about social media is TRUE?
a. Social media should be viewed as a one-way conversation
b. Proper usage of social media requires a full-time expert
c. Social media should be viewed as a two-way conversation
d. It is important to only post business-related articles on social media
90. What does the term “collaborative vendor management” mean?
a. Regularly communicating with vendors keeps them engaged in servicing your business
b. You should be able to trust them with confidential business information
c. Never penalize vendors for failure to meet the standards of the agreement
d. All of the answers shown
91. How is Niche Marketing defined?
a. Focuses on a wide variety of products to a wide audience with the broadest message intended to reach the largest number of people possible
b. Concentrating all marketing efforts on a small, but specific and well defined segment of business
c. An attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media
d. Concentrating all marketing efforts on a large segment of business
92. Baby Boomers and Seniors sometimes have _____________ which could make these age groups a great niche market.
a. Different income considerations
b. Special housing requirements
c. All of the above
d. None of the above
93. Which of the following is NOT necessarily an advantage of niche marketing?
a. It helps the business to be seen as an “expert” in their field.
b. It helps in a targeted business promotion strategy.
c. It eliminates competition.
d. All of the above
94. President of The Client Driven Practice coaching firm, Stephen Wershing says: “A niche is not a demographic, a niche is a ______.”
a. Need
b. Chance to increase income
c. Potential referral
d. None of the above
95. When looking to discover a possible niche, which of the following sources should not be explored?
a. Classmates
b. Asset managers
c. Referrals
d. None of the above
96. Of these, which are important components of developing your niche marketing plan?
a. Your past experiences
b. Successful business model
c. Your unique skills
d. All of the above
97. When solving a problem or preparing for change, a view is simply a different angle to consider. What are the four viewpoints to consider when forming your business strategy?
a. Environmental, Marketplace, Project and Measurement
b. Environmental, Marketplace, Focus and Mediation
c. Environmental, Observation, Focus, Motivation and Ideal Outcome
d. There are only two viewpoints: formulation and implementation.
98. Anytime you’re in a business with a specific customer Niche, pay per click advertising is _____________.
a. Unreliable.
b. A must for success.
c. Very expensive.
d. A waste of money for any real estate company.
99. Which of the following are examples of potential Referral Resources?
a. Non-Profit Organizations
b. Medical Professionals
c. Accountants
d. All of the above
100. In order to successfully develop, introduce, execute and dominate a niche market with a specific product or service, what does it take?
a. Minimal research, careful planning and execution
b. Motivation and a good team
c. Extensive research, careful planning, execution and extreme aversion to risk
d. Simply focusing on media outlets
101. In marketing, it is often the________________, if executed successfully, that can own the niche market with their brand.
a. Largest overall budget
b. Broadest Facebook ad campaign
c. First brand to market
d. Most expensive product
102. Which of the following are recommended tips for a real estate business to attract visitors to its website?
a. Use niche specific keywords
b. Ensure that the website is accessible on mobile phones
c. List on major real estate and syndicated websites
d. All of the answers shown
103. More than 70% of internet buyers indicating that they ended up working with ___________________.
a. Zillow.com
b. The first web agent that contacted them
c. A local agent in a brick and mortar office
d. Someone referred by a Facebook friend
104. What does the 80-20 rule signify in business?
a. Only a few things are responsible for the vast amount of your productivity and results in business
b. 80% of your sales staff will contribute 20% of the sales
c. 80% of your cost items will contribute to 20% of your expenses
d. None of the above
105. Which of the following is intended to create market coverage by appealing to the whole market with one offer or one strategy?
a. Focus Marketing
b. Content Marketing
c. Mass Marketing
d. Diversity Marketing
106. What should be done with a niche marketing plan after its creation?
a. Share it with a trusted advisor
b. Review it from time to time
c. Make adjustments as needed
d. All of the above
107. Which of the following is NOT a management tool for success?
a. Systems
b. Print Advertising
c. Database
d. Vendor Relationships
108. Niche Marketing can be described as a business strategy aimed at being:
a. A little fish in a big pond.
b. A snake in the grass.
c. A wolf in the fold
d. A big fish in a little pond.
109. Which of the following tools do NOT offer project management capabilities?
a. Norada
b. Top Producer (Real Estate Transaction Management Center)
c. Facebook
d. Solve360
110. Tailoring information and services to what specific sort of buyer is often a continuing source of repeat business and referrals?
a. First-time home buyers
b. Social media contacts
c. Land developers
d. Family members
111. What do we call the discovery that it costs the average business about five times more to obtain a new customer than to maintain the relationship with an existing customer?
a. Kunzler’s Concept
b. Kotler’s Idea
c. Kinzua’s Theory
d. Kraft’s Paradox
112. In today’s market, what is the key to developing a profitable business?
a. Defining and properly marketing your niche
b. Exploring your personality
c. Creating a vision and tangible goals
d. Focusing on high sales and low prices
113. Which question is NOT important to ask yourself while creating your Niche Marketing Plan?
a. Where do most of your clients come from and who are they?
b. What part of your business do you most enjoy?
c. What sort of real estate product do you find yourself selling most?
d. How can I focus on a wide variety of products to a wide audience?
114. Women make up about 54% of this group according to the Census Bureau.
a. Real Estate Agents
b. Small Business Owners
c. Single Head of Household
d. Civil Service Employees
115. Which of the following is the least cost effective niche marketing tool?
a. Facebook.com
b. Twitter.com
c. Pinterest.com
d. None, as all offer free services
116. Which of the following is not a basic concept in niche marketing success?
a. Unique product or service.
b. Marketable product or service.
c. Choose a niche market that’s available.
d. Location, location, location
117. Creating Teams and Adapting New Technologies are examples of:
a. Accessing core skills
b. Strategy Implementation
c. Test Marketing
d. None of the above
118. Which of the following methods might an agent use to make a living as a property manager?
a. Cooperation with a vacation home buyer agent
b. Partnering with agents who have very old listings
c. Managing both short and long term property rentals
d. All of the above
119. What criteria are offered by the Small Business Association to help define your ideal outcome through strategic thinking?
a. Observation, Views, Advertising, Driving Forces and Focus
b. Organization, Observation, Views, Driving Forces and Ideal Position
c. Observation, Organization, Views, Driving Forces and Mediation
d. Environmental, Marketplace, Protection and Measurement
120. An important element to understanding the nature of strategic planning is to recognize the difference between strategy formulation and strategy implementation. Strategy Formulation is
a. Concentrating all marketing efforts on a small, but specific and well defined segment of business.
b. The planning and decision making that goes into developing a company’s strategic goals and plans.
c. The means associated with executing the strategic plan.
d. An attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media.
121. Networking may come naturally to some, while it can be an acquired skill for others. What is the best way to improve your networking skills?
a. Do your best to talk to more potential clients
b. Mention your real estate business to 1 out of every 500 people you meet
c. Ignore potential clients
d. Take a networking class to perfect your skills
122. Which of the following factors can be classified as part of psycho graphics, for identifying a niche in real estate?
a. Values
b. Ethnic background
c. Occupation
d. All of the answers shown
123. Handicap accessible properties, country living and golf communities are all types of _________.
a. FSBOs
b. Niche Market Specializations
c. Referral Resources
d. Mass Marketing Specializations
124. Even in a down economy people see the value in vacation homes as __________.
a. Income opportunities.
b. A waste of money.
c. An unreliable investment.
d. A huge market influence.
125. ___________ is the most important component for niche market, and needs to target exactly the right kind of customer/client.
a. Marketing
b. Social media
c. Referral resources
d. Community outreach
126. Peaks and valleys occur because when we’re busy doing the work, we’re not busy ___________.
a. Analyzing results.
b. Creating the work.
c. Managing the office.
d. Relaxing.
127. Which of the following might be a good tool to utilize to determine the viability of a prospective niche market?
a. Google Insights for Search
b. ComScore Networks
c. Jupiter Research
d. All of the above
128. Real Estate Niche Marketing begins where?
a. Facebook.com
b. REALTOR.com
c. Print Advertising
d. With your website
129. Nationally, there has been a huge growth in the number of ___________ in the last decade. In some cases, the owners are investors who wish to rent it.
a. Private storage facilities
b. Online Domain Name registrations
c. Houseboats
d. Condominiums
130. Luxury homes require special marketing venues that generally require _________.
a. Minimal investment on part of the listing brokerage.
b. Luxury homes do not require special marketing venues.
c. Mass marketing.
d. Larger investment on the part of the listing brokerage.
131. Determining what makes your business different from competitors helps create your:
a. USP-Unique Selling Proposition
b. PCM-Primary Customer Motivator
c. CBA-Clickbait Analytics
d. None of the above
132. Which of the following activities should be time-blocked and accounted for as critical components for successful time management?
a. Spiritual/Church/Temple
b. Customer Prospecting
c. Fitness/Health
d. All of the above
133. Which of the following defines the objective of studying the demographics and psychographics of the desired niche segment?
a. What need will the product satisfy?
b. Does this service warrant a worthwhile price?
c. What channels of advertising do I use to reach to my target segment?
d. All of the answers shown
134. What should be done with a niche marketing plan after its creation?
a. Share it with a trusted advisor
b. Review it from time to time
c. Make adjustments as needed
d. All of the above
135. Which of the following are not useful parts of formulating a strategy?
a. Assessing the environments
b. Analyzing core competencies
c. Reviewing office ergonomics
d. Creating goals and action plans
136. Which of the following statements on social media is CORRECT?
a. Social media can act as a highly targeted real estate marketing tool.
b. Social media campaigns are easy to execute.
c. Social media is a mass media tool that is not effective for targeted campaigns.
d. None of the answers shown
137. When focusing on your market research, where can you go to figure out what customers are looking for?
a. Jupiter Research
b. Google Trends
c. eBay Pulse
d. All of the answers shown
138. When asking yourself, “What are the driving forces that will make my business a success?” you must specifically relate your answer to
a. Qualitative factors, such as results or experience.
b. Empowerment and alignment.
c. Your company’s vision and mission.
d. All of the answers shown
139. Which of the following is intended to create market coverage by appealing to the whole market with one offer or one strategy?
a. Focus Marketing
b. Content Marketing
c. Mass Marketing
d. Diversity Marketing
140. Of the following, which one is not considered to be among the facets of 5C Analysis?
a. Customers
b. Climate
c. Charisma
d. Company

click here for all Q&A on 1page for easier searching

Recommended Real Estate Schools:

Website Trusted and Protected by: