Market Segmentation Quiz

What is product orientation primarily focused on?

• Consumer preferences

• Production process

• Market trends

• Competitive pricing

When is product orientation most appropriate?

• High disposable income

• Strong brand loyalty

• Limited consumer knowledge

• High competition in the market

What does market orientation prioritize?

• Production efficiency

• Product features

• Customer requirements

• Cost leadership

What is market mapping used for?

• Analyzing competitor pricing

• Identifying production costs

• Finding gaps in the market

• Improving product quality

Which of the following is an example of market segmentation by demographics?

• Offering luxury products

• Focusing on high-income consumers

• Selling only in urban areas

• Targeting young professionals

What does segmentation by lifestyle consider?

• Geographic location

• Hobbies and interests

• Income levels

• Age and gender

What is competitive advantage?

• A type of market segmentation

• A method of product differentiation

• An advantage over competitors

• A strategy for market mapping

Who first introduced the concept of competitive advantage?

• Peter Drucker

• Henry Mintzberg

• Michael Porter

• Philip Kotler

What is added value?

• The cost of production

• The difference between price and cost of inputs

• The total revenue generated

• The market share of a product

Which of the following is a method of differentiation?

• Lowering prices

• Reducing marketing efforts

• Increasing production volume

• Enhancing customer service