Strengths, Weakness, Opportunities, Threats

India researched the target market for her hair care business and found that 50% of African-American population live in the south. If she plans to be successful she should market her business in these cities...

Baltimore, Richmond, Los Angles

A consumer attitude includes all the following..

healthy eating, trend-setting, exercising

shoveling snow, wearing shorts in February

purchasing from the same company all the time

The term "Demographics" refers to

Grouping potential customers using statistical data such as age, race and gender

Grouping potential customers based on their beliefs and preferences

Grouping potential customers based on whether or not they have purchased a product in the past

Grouping potential customers based on where they live

Which of these answer includes ONLY examples of demographics?

Marital status, religion, ethnicity

Age, geographical location, gender

A business' target market includes

The specific people that the company is aiming to reach with its marketing and sales efforts

All the people who might use a product or service

Define what is meant by the term 'market segmentation'

The splitting of the market for product or service into different parts, or segments.

The action or activity of gathering information about consumers' needs and preferences.

Define what is meant by 'target market'

Group of customers at which a product or service is aimed, or targeted.

Splitting the market for a product into different parts, or segments.

Which of the following are methods used to segment a market?

Age, gender, income, location and lifestyle.

Age, religion, school you go to, eating habits and views on education

How is a market segmented by 'age'?

Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old

Products can be aimed specifically at males or females or both

People have different hobbies and interests, which can be connected to income and location.

Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller car

How is a market segmented by 'location'?

Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller car

Products can be aimed specifically at males or females or both

People have different hobbies and interests, which can be connected to income and location.

Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old

How is a market segmented by 'lifestyle'?

People have different hobbies and interests, which can be connected to income and location.

Products can be aimed specifically at males or females or both

Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller car

Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old

How is a market segmented by 'income'?

The population can also be divided into; low income, middle income and high income.

People have different hobbies and interests, which can be connected to income and location.

Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller car

Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old

Segmentation of a market is done to help with?

Targeting advertising more accurately

Increase the amount of products being made

Improving the quality of goods being sold

Making sure that workers are happy at work

Which market segments would this product appeal to?

Young, females, any income, any location

Any age group, females, high income, living in Scotland, sporty

How would you change this product so that it appealed to young males?

Change the colour to blue and use different pictures to fairies, by using superheroes.

Leave the colour as boys like this colour anyway

Which market segment would this product appeal to?

High income, males, 18+, who enjoy fast cars

Low income, young, females, who enjoy fast cars

Which market segment would this product appeal to?

Males, any age, living in Scotland, any income

Females, 60+, sporty, living in England, low income

Which market segment would this service appeal to?

Males and females, with/without children, middle to high income, with busy lifestyles

Females, high income, professional people who value leisure time

Which of the following best describes market segmentation?

Dividing a large market into a smaller sub-market

Selling goods for less than their production cost to maximise sales

Maintaining long-term ties with customers to encourage repeat sales

Identifying the consumer groups most likely to buy a business's products

Traditionally, mass marketing of a consumer product results in:

the largest potential market for that product

increased product prices due to the lack of differentiation and decreased competition

fewer competitors because there are fewer markets

MARKET SEGMENTATION (BMK20103)

Authored by Hidayah Azman

Professional Development

University

CCSS covered

Used 14+ times

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MULTIPLE CHOICE QUESTION

Psychographic criteria

Geographic criteria

Demographic criteria

Behavioral criteria

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MARKET SEGMENTATION (BMK20103)

Customer Analysis(surveys) are a great source to study a customers buying habits.

A ________analysis is based on a customers changes in attitudes, lifestyles, and opinions.

The change in climate of the city, where a product is being sold will affect the __________region of the marketing plan.

___________is based on the way a customer use the product.

A customers interest in playing basketball can help a marketer determine his/her ______.

Segmentation Variable is called..

Chad has an interest partying every weekend this can help a marketer determine his ______.

Knowing a customers family size can not help determine the demographics of the target market.

Customer Analysis(surveys) are a great source to study a customers buying habits.

A ________analysis is based on a customers changes in attitudes, lifestyles, and opinions.

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