Market Segmentation

Front

Market segmentation:

Back

Divides customers into sub groups

Front

How is a market segmented by 'lifestyle'? Options: Products can be aimed specifically at males or females or both, People have different hobbies and interests, Consumers live in different parts of the country and will have different tastes and needs, Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old

Back

People have different hobbies and interests

Front

How is a market segmented by 'location'? Options: Products can be aimed specifically at males or females or both, People have different hobbies and interests, Consumers live in different parts of the country and will have different tastes and needs.  , Age groups can be split into categories e.g. 0-10, 11-16 or 18+.  Or even by young and old

Back

Consumers live in different parts of the country and will have different tastes and needs. 

Front

An internet travel agent sells expensive round the world cruises. Which market segment is the travel agent most likely to target? Options: Families with children under 5, Local residents, People with high incomes, Young, single men

Back

People with high incomes

Front

The particular market segment at which a business aims its products is known as the:

Back

Target Market

Front

Which of the following is an advantage of using market segmentation? It allows a business to charge higher prices, It lets a business invest more in plant and machinery, It saves business money by avoiding the need for TV advertising, It allows a business to target its promotional strategy more effectively.

Back

It allows a business to target its promotional strategy more effectively.

Front

What is a disadvantage of using market segmentation? Options: You can't sell your products to everyone, It is rarely effective, It requires additional market research, Not everyone likes tangerines

Back

It requires additional market research

Front

A disadvantage of market segmentation is... Making different product variants for different segments is expensive

Back

Making different product variants for different segments is expensive

Front

Which is NOT an example of Market Segmentation? Income, Gender, Age, Hair Colour

Back

Hair Colour

Front

Which of the following are methods used to segment a market? Age, religion, school you go to, eating habits and views on education, Age, gender, income, location and lifestyle.

Back

Age, gender, income, location and lifestyle.