Market Segmentation Quiz

For a customer to be part of a market, what three things are required?

(Pick 3)

• An unfulfilled desire
  

• 
  Financial ability or resources
  

• A Network of potential consumers

• 
  The willingness to satisfy that desire

What is a target market?

• A target market is a specific group of consumers that a company ignores.
• A target market is a general term for any market segment.
• A target market is a group of archery enthusiasts.
• A target market is a specific group of consumers that a company aims to reach with its products and services.

How is a target market important for a business desiring to satisfy customers' needs?

• By ignoring the target market, a business can better satisfy customers' needs
• A target market is irrelevant for satisfying customers' needs
• Focusing on a broad market is more effective than targeting a specific market
• It is important for a business desiring to satisfy customers’ needs because a
  target market is a group of customers with similar needs or wants

What is target marketing?

• Target marketing is a strategy where a company focuses on marketing to a random selection of individuals.
• Target marketing is a strategy where a company focuses on marketing to competitors.
• the identification and selection of markets for a business or for a product.

• Target marketing is a strategy where a company focuses on marketing to everyone in the market equally.

What three things do marketers do to conduct target marketing?

(Pick 3)

• select the category (or categories) to fit what they intend to accomplish

• Ignore target audience, create tailored messages, choose random channels
• look at the entire market

• identify the categories they
  see

How many target markets can a customer belong to?

• Just One

• More Than One

What is mass marketing?

• Ignoring customer feedback
• Using personalized marketing strategies
• designing products and directing marketing activities to appeal to the whole market

• Targeting a specific niche market

What is segment marketing?

• Segment marketing takes place when marketers divide the market into smaller groups
  to target each group individually

• Segment marketing is focusing on a single market segment exclusively.
• Segment marketing involves randomly selecting customers to target.
• Segment marketing is ignoring market segmentation altogether.

Define market segmentation.

• Market segmentation is the process of targeting only one specific buyer group.
• Market segmentation is the process of combining all buyers into one group.
• Market segmentation is the division of a total market into smaller, more specific groups

• Market segmentation is the process of ignoring buyer preferences.

What is a market segment?

• market segment is one of the groups into which the total market is divided.
  

• A market segment is a group of potential customers with different needs and characteristics.
• A market segment is a group of existing customers with similar needs and characteristics.
• A market segment is a group of potential customers with unrelated needs and characteristics.