Market Segmentation

The video tutorial explains customer segmentation, emphasizing the importance of identifying and analyzing potential customer markets. It covers the distinction between B2B and B2C markets, highlighting the need to understand demographic and psychographic characteristics. The tutorial also discusses leveraging existing data from larger companies and the significance of market presence and expansion opportunities.

What is the primary goal of customer segmentation?

• To increase product prices

• To eliminate competition

• To identify and serve different customer markets effectively

• To reduce marketing costs

Which of the following is a key consideration in B2B segmentation?

• Customer's favorite color

• Number of employees in the business

• Customer's pet preference

• Customer's favorite food

In B2C segmentation, which demographic information is crucial?

• Favorite movie genre

• Preferred vacation destination

• Race, gender, and ethnicity

• Favorite sports team

What should businesses consider about their customers' lifestyle?

• Their favorite book

• Their favorite TV show

• Their socio-economic status and hobbies

• Their favorite restaurant

Why is it important to identify the percentage of market presence?

• To determine the best time to launch a new product

• To choose the best advertising slogan

• To decide on the color of the product packaging

• To understand areas with little presence and potential for expansion