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

Which of these answer includes ONLY examples of demographics?

• Marital status, religion, ethnicity

• Household income, gender, race

• Age, geographical location, gender

• Race, age, hobbies

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

When a business divides its market on the basis of where its customers live is called

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

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

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

• geographic segmentation

Targeting a group of potential consumers using psychographic characteristics might include using data about

• music preferences

• race

• age

• gender

Targeting a group of potential consumers using geographic data might be a great idea for which types of businesses?

• A private school

• A dry cleaning business

• A restaurant

• A political candidate