market segmentation

The process of dividing a market of potential customers into groups based on different characteristics is called

• Market Segmentation

• Market Analysis

• Demographics

• Consumer identification

The term "Demographics" refers to

• 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 using statistical data such as age, race and gender

• Grouping potential customers based on where they live

Which of these is NOT a Demographic characteristic, or a statistical way of grouping people that is tracked in the US Census?

• Age

• Household Income

• Race

• Political preference

Segmenting a market based on customers' attitudes, opinions, and interests is called

• Demographics

• Psychographics

• Geographics

• Market Segmentation

Which of these answer includes ONLY examples of psychographics?

• Interests, opinions, attitudes

• Household income, beliefs, race

• Age, geographical location, gender

• Ethnicity, age, hobbies

Segmenting a market based on customers' buying habits is an example of

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

• geographic segmentation

A business' target market includes

• Everyone

• All the people who might use a product or service

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

• One segment of the market

Define what is meant by the term 'market segmentation'

• The action or activity of gathering information about consumers' needs and preferences.
• The splitting of the market for product or service into different parts, or segments.

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, religion, school you go to, eating habits and views on education
• Age, gender, income, location and lifestyle.