Podcast
Questions and Answers
What type of segmentation focuses on consumers' lifestyle and personality?
What type of segmentation focuses on consumers' lifestyle and personality?
Which segmentation variable does not directly relate to geographic factors?
Which segmentation variable does not directly relate to geographic factors?
What factor is NOT considered in evaluating the attractiveness of a market segment?
What factor is NOT considered in evaluating the attractiveness of a market segment?
Which of the following is an example of behavioral segmentation?
Which of the following is an example of behavioral segmentation?
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Which of these is NOT one of the Big Five Personality Traits?
Which of these is NOT one of the Big Five Personality Traits?
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Which statement best describes geo-targeting?
Which statement best describes geo-targeting?
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Which factor is related to the level of competition in market segment attractiveness?
Which factor is related to the level of competition in market segment attractiveness?
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What is geo-clustering primarily concerned with?
What is geo-clustering primarily concerned with?
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Study Notes
Consumer Behavior
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Segmentation Variables: Used to divide the market into groups with shared characteristics.
- Geographic: Nations, regions, cities, neighborhoods, climate.
- Demographic: Age, life cycle stage, gender, income, religion.
- Psychographic: Lifestyle, personality.
- Behavioral: Occasions, benefits, user status, usage rate.
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Geographic Segmentation: Dividing the market into geographical units like countries, regions, cities, etc.
- Geo-clustering: Combining geographic variables with other variables to create smaller, more defined segments.
- Geo-targeting: Showing different content to consumers based on their location.
- Demographic Segmentation: Uses variables like age, life stage, gender, income, occupation, education to define consumer segments.
- Psychographic Segmentation: Divides consumers based on lifestyle and personality traits.
- Trait Theory: An approach to studying personality that identifies recurring patterns of thought and behavior (e.g., anxiousness, shyness, openness).
Big 5 Personality Traits (OCEAN)
- Openness to experience, conscientiousness, extraversion, agreeableness, neuroticism are five key personality traits that psychologists often use.
Behavioral Segmentation
- Divides buyers based on their knowledge, attitudes, uses, and responses to products.
Factors Affecting Market Segment Attractiveness
- Market Factors: Size, growth rate, life cycle stage, predictability, price elasticity, bargaining power of buyers, demand cycles.
- Economic and Technological Factors: Barriers to entry and exit, supplier power, technology utilization, investment required, profit margins.
- Competitive Factors: Intensity, product quality, threat of substitution, degree of differentiation.
- Environmental Factors: Economic fluctuations, political and legal regulations, social and physical environment.
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Description
Explore the various segmentation variables that define consumer behavior. This quiz covers geographic, demographic, psychographic, and behavioral segmentation, providing insights into how markets are divided into meaningful groups. Understand the methods used to identify consumer needs and target audiences effectively.
