MKT 1-9 Markets, Target Markets, and Market Segmentation

Which of the following is an example of geographic segmentation?

• Targeting customers based on their interests
• Targeting customers based on their income
• Targeting customers based on their geographic location
• Targeting customers based on their attitudes towards a brand

Which of the following is NOT a variable used in behavioral segmentation?

• Loyalty to a team
• Geographic location
• Knowledge of brand
• Attitudes

Which of the following is an example of demographic segmentation?

• Targeting customers based on their attitudes towards a brand
• Targeting customers based on their interests
• Targeting jazz music lovers of any age
• Targeting customers based on their geographic location

What is one advantage of market segmentation?

• It allows for more precise targeting of customers
• It is less costly than mass marketing
• It appeals to a broader audience
• It reduces competition

What is a market?

• A specific group of customers
• A place where goods and services are bought and sold
• A group of people who share common characteristics
• A person or group who is willing and able to spend money

What is the purpose of market segmentation?

• To reduce advertising costs
• To sort people into groups for target marketing
• To increase competition
• To appeal to the entire market

What is one disadvantage of market segmentation?

• It is more costly than mass marketing
• It requires less research than mass marketing
• It reduces competition
• It is more difficult to reach and sell to customers

What is the process of dividing customers into groups based on variables like lifestyle, interests, personalities, and values for the purposes of target marketing?

• Behavioral segmentation
• Geographic segmentation
• Psychographic segmentation
• Demographic segmentation

What is the difference between target market and mass marketing?

• Target market involves more research than mass marketing
• Target market is more costly than mass marketing
• Target market focuses on specific groups, while mass marketing appeals to the entire market
• Target market is less effective than mass marketing

What is the process of dividing customers into groups based on variables like attitudes and knowledge of your brand, and the way they use it?

• Demographic segmentation
• Psychographic segmentation
• Geographic segmentation
• Behavioral segmentation