Segmentation

What is market segmentation?

• The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors.

• Selling products to a diverse range of customers without differentiation.

• Focusing solely on niche markets to maximize profits.

• Ignoring consumer diversity to streamline marketing efforts.

Which of the following factors determine the selection of a market segment?

• Geographical location only

• Income level and occupation only

• Demographic, psychographic, behavioral, and geographic variables

• Random selection without any specific criteria

In segmenting consumer markets, which approach involves dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product?

• Geographic segmentation

• Demographic segmentation

• Psychographic segmentation

• Behavioral segmentation

What is the primary objective of market segmentation?

• To decrease customer diversity

• To increase production costs

• To tailor marketing efforts to specific groups of consumers

• To eliminate competition

How can market segmentation be applied to tourism and hospitality products and services?

• By offering the same packages to all tourists

• By customizing experiences based on travelers' interests, demographics, and preferences

• By limiting services to only one type of traveler

• By ignoring customer feedback

How can market segmentation benefit the tourism industry?

• By offering generic packages to all travelers

• By customizing experiences based on travelers' preferences

• By limiting services to a specific type of traveler

• By avoiding customer feedback