Marketing Planning - Part 2 of 2

What is a primary goal of market segmentation?

• To reduce production costs

• To identify distinct customer groups for targeted marketing

• To analyze competitor performance

• To improve employee productivity

Which of the following would be considered a psychographic factor?

• Age

• Lifestyle preferences

• Geographic location

• Income level

In demographic segmentation, which characteristic is least likely to be considered?

• Hobbies

• Age

• Gender

• Income level

A SWOT analysis is most useful during which stage of marketing planning?

• Budget allocation

• Identifying marketing strategies

• Evaluating promotional effectiveness

• Reviewing sales goals

Which term refers to promoting products to the broadest audience possible without segmentation?

• Target marketing

• Mass marketing

• Niche marketing

• Psychographic marketing

What is an example of a business using behavioral segmentation?

• Targeting frequent travelers with loyalty rewards

• Advertising based on weather conditions

• Marketing to people in rural areas

• Promoting products to specific age groups

What is a niche market most likely to focus on?

• A specific and specialized customer group

• The entire market within a country

• Customers with high disposable income

• A product that appeals to all demographics

Which is an example of geographic segmentation?

• Marketing snow tires in colder regions

• Advertising based on consumer income levels

• Selling products based on age groups

• Grouping customers by their purchasing behavior

What is the primary advantage of mass marketing?

• Increased ability to customize products

• Broader reach and appeal to more customers

• Focused targeting of customer segments

• Easier data collection

In a SWOT analysis, which factor would 'new competitors entering the market' fall under?

• Strength

• Weakness

• Opportunity

• Threat