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Understanding Market Segmentation

Authored by Rozeena Beg

Business

Professional Development

Used 3+ times

Understanding Market Segmentation
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is market segmentation?

Market segmentation refers to the total market size of a product.

Market segmentation is the process of increasing market prices.

Market segmentation is the analysis of a company's financial performance.

Market segmentation is the division of a market into distinct groups of buyers with different needs, characteristics, or behaviors.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Name the four main types of market segmentation.

Demographic, Geographic, Psychographic, Behavioral

Cultural, Seasonal, Economic, Technological

Urban, Rural, Suburban, International

Political, Social, Environmental, Historical

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does demographic segmentation differ from psychographic segmentation?

Demographic segmentation focuses on observable characteristics, while psychographic segmentation focuses on psychological traits.

Demographic segmentation is based on consumer behavior, while psychographic segmentation is based on age.

Demographic segmentation is concerned with income levels, while psychographic segmentation looks at geographic locations.

Demographic segmentation analyzes market trends, while psychographic segmentation focuses on sales data.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of market segmentation in business?

To eliminate competition by lowering prices across the board.

To increase overall market share without focusing on specific groups.

To identify and target specific consumer groups for tailored marketing strategies.

To create a one-size-fits-all marketing strategy for all consumers.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Give an example of a product that uses geographic segmentation.

Pepsi's global marketing campaign

Nike's universal shoe designs

Apple's standard iPhone model

Coca-Cola's region-specific flavors and packaging.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factors should a business consider when choosing a segmentation strategy?

Supply chain management techniques

Product pricing strategies

Employee training programs

Demographics, psychographics, geographic location, behavioral patterns, market size, competition, and business objectives.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can behavioural segmentation impact marketing strategies?

It allows for a one-size-fits-all marketing approach.

Behavioral segmentation impacts marketing strategies by enabling targeted campaigns that increase engagement and conversion rates.

It focuses solely on demographic factors rather than behavior.

Behavioral segmentation has no effect on customer engagement.

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