Market Segmentation

Market segmentation requires creating subgroups of consumers which are similar to one another in important buying behavior characteristics.

• True

• False

The largest market segment that contains the heaviest users of the product should always be pursued by an organization.

• True

• False

Dividing the consumer market into domestic users and foreign users is an example of

• market segmentation

• product specialization

• type of demand

• benefit segmentation

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

• demographic

• geographic

• psychographic

• behavioural

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

• demographic

• geographic

• behavioral

• psychographic

_________ is based on the way a customer use the product.

• Mass marketing

• Behavioral analysis

• Demographic analysis

• Target market analysis

Jane's interest in traveling can help a marketer determine her ______.

• psychographic criteria

• demographic criteria

• geographic criteria

• behavioral criteria

What is a market segment?

• A market segment is every consumer.

• A sub-group of consumers who share one, or a number of characteristics, which result in them having similar wants and needs.

• Both statements above are true.

Maket segmentation is the process of dividing a market into distinct groups or segments that share _ _ _ _ _ _ characteristics.

Which 2 are benefits of Market Segmentation?

• It allows the business to sell less products overall and perhaps decrease profit.

• It can allow customers to feel that their needs are being better targeted and develop loyalty to the business.

• It can help prevent products being promoted to the wrong peoples otherwise there may be resources wasted and possible losses.

• It does not allow a business to target particular groups with particular products.