Demographics (i.e., age, family size, gender), opinions, population growth, employment growth and such are considered in the social factors.

Political stability, tax reforms, and tariffs are some aspects to consider in the economic factors.

In evaluating the economic factors, inflation is one of the primary aspects that businesses look into.

PEST Analysis is a management method whereby an organization can assess major industrial factors that influence its operation in order to become more competitive in the market.

When a business assesses its strengths, it looks deep within itself by identifying the traits that needed to be improved.

Weaknesses stop an organization from performing at its optimum level.

Opportunities refer to favorable external factors that could give an organization a competitive advantage.

Common threats include things like rising costs for materials, increasing competition, and tight labor supply.

Opportunities and threats are classified under internal quadrants of the SWOT Analysis

This is a marketing term that refers to aggregating prospective buyers into groups with common needs and who respond similarly to a marketing action.

Your market segmentation strategy revealed that your target market for video game consoles is young male audiences.

Young professionals prefer playing Mobile Legends, while high school and college students prefer Valorant, Call of Duty Mobile, and APEX.

A vegan restaurant was established in your area to cater to the market with a vegetarian diet. What market segmentation strategy did the business employ?

A business owner wants to establish a school supplies shop near a university. Identify the market segmentation strategy employed.

Hallyu Manhwa Online Services aims to target teenagers by offering a variety of genres of online Korean comics. Select the most appropriate market segmentation strategy.

If Mr. Chung aims to target a specific market which is families who frequently eat together during weekends, what particular market segmentation strategy will you use?

Ms. Nancy found out that if she will establish a daycare service center around Bonifacio Global City, the business will thrive. What segmentation strategy was considered?

If a business owner is aiming to establish a business where his consumers are at peak during Summer Season (April to June), what is the most appropriate market segmentation strategy?

A halo-halo vendor learned that his products can be popular in Guam. What particular business segmentation will be the most appropriate?