Market Segmentation Quiz

What does market segmentation help identify?

• The best suppliers

• The target market

• The cheapest products

• The largest companies

Market segmentation involves splitting consumers into what?

• Competitors

• Groups

• Markets

• Location

What is the main goal of identifying a target market?

• To decrease market share

• To aim a product or service at a specific consumers

• To reduce the amount of market research

• Collect internal data

What does market segmentation allow businesses to do?

• Ignore customer preferences

• Focus on specific consumer needs

• Increase product prices

• Reduce the number of employees

What is the relationship between market segmentation and target markets?

• Market segmentation ignores target markets

• Market segmentation helps identify target markets

• Market segmentation eliminates target markets

• Market segmentation is unrelated to target markets

Which of the following is an example of adapting products?

• Keeping the same product for all consumers

• Customizing shoes for different activities

• Reducing the number of product options

• Ignoring consumer trends

What is a potential outcome of successfully adapting products?

• Decreased brand reputation

• Increased consumer loyalty

• Reduced market presence

• Lower sales

Which of these is NOT a method of market segmentation?

• Gender

• Income

• Favorite movie

• Location

What is a common demographic factor used in market segmentation?

• Hobbies

• Gender

• Price

• Market Research

What type of watches might be designed for children?

• High price

• Roman Numerals

• Bright colors

• Glass casing