WorksheetsMarket Segmentation
Total questions: 12
Worksheet time: 6mins
What is the primary purpose of market segmentation?
To increase the total market size
To identify specific groups of customers with similar needs
To decrease marketing costs
To create a single marketing strategy for all customers
Which of the following is NOT a criteria for a useful market segment?
Identifiability
Measurability
Exclusivity
Reachability
A market segment that consists of people who live within a specific distance from a business is primarily based on which factor?
Demographics
Geography
Psychographics
Behavioral
Which of the following best describes demographics?
Grouping based on lifestyle choices
Grouping based on shared behaviors
Grouping based on age, income, and education
Grouping based on cultural heritage
Psychographics focuses on which aspect of consumer behavior?
How much money people make
The location where people live
People’s lifestyles, attitudes, and personalities
The number of customers in a market
Which segment would most likely dine at a fancy restaurant?
Teenagers who enjoy fast food
Families with young children
Adults with higher income levels
College students living on a budget
What is behavior in the context of market segmentation?
The income level of customers
The attitudes and beliefs of customers
How customers act based on their choices
The geographic location of customers
Why is it important for a market segment to be measurable?
To ensure it is large enough
To identify specific group members
To track customer preferences and responses
To prevent overlaps with other segments
What does the term "benefits sought" refer to?
The financial costs associated with a product
The specific advantages that customers look for in a product
The location where a product is sold
The demographic characteristics of customers
How might market segmentation change over time?
It remains static and unchanging
It can adapt to shifting consumer preferences and trends
It only changes in response to economic downturns
It is influenced solely by geographic factors
What is a niche market?
A broad target market with diverse needs
A small, clearly identifiable target market
A market focused solely on luxury items
A market that includes all types of consumers
What advantage do companies serving niche markets have?
They can reach a wider audience
They can charge higher prices
They have fewer competitors
They require less advertising
