4.03 Entrepreneurship 2 Review

How many market segmentations are there?

• 4

• 8

• 2

• 10

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

• Market Segmentation

• Market Analysis

• Demographics

• Consumer identification

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

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

Target market is the group of customers at which a product or service is aimed at?

• True

• False

The division of a market on the basis of its physical and social characteristics

• Behavioral Segmentation

• Demographic Segmentation

• Psychographic Segmentation

• Geographic Segmentation

The division of a market on the basis of customers’ responses to a product

• Behavioral Segmentation

• Geographic Segmentation

• Demographic Segmentation

• Psychographic Segmentation

The division of a market on the basis of customers’ lifestyles and personalities

• Geographic Segmentation

• Demographic Segmentation

• Psychographic Segmentation

• Behavioral Segmentation

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 the following is a type of segmentation based on how much a customer earns?

• Lifestyle

• Age

• Location

• Income

Living in the midwest is an example of

• Demographic

• Psychographic

• Geographic

• Product Useage