Understanding Market Segmentation

What is the primary purpose of market segmentation?

• To increase overall sales globally

• To reduce marketing costs drastically

• To eliminate competition

• To divide customers into specific groups based on various factors

What does the first 'G' in GALEGO stand for?

• Gender

• Geographic

• Growth

• Group

What type of market segmentation focuses on the customer's job?

• Occupation

• Lifestyle

• Age

• Income

What does the 'L' in GALEGO represent?

• Location

• Lifestyle

• Luxury

• Length

In the context of market segmentation, what does 'Age' segmentation typically consider?

• The geographical location of customers

• The changing needs of customers as they age

• The cultural background of customers

• The occupational status of customers

Which type of segmentation would be most useful for a company selling winter coats?

• Occupation

• Income

• Geographic

• Gender

Which company is mentioned as using market segmentation to target both genders with specific products?

• JD Sports

• Mercedes

• Nike

• Coca-Cola

Which drink brand has diversified its product range to include options like Powerade and Vitamin Water?

• Pepsi

• Coca-Cola

• Red Bull

• Starbucks

How does JD Sports approach market segmentation within its stores?

• By focusing exclusively on sports enthusiasts

• By offering products for different age groups

• By only targeting high-income customers

• By selling only gender-specific items

Which brand targets high-income individuals with products starting from $24,000?

• JD Sports

• Coca-Cola

• Mercedes

• Nike