Market Segmentation and Target Market Quiz

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Which of the following best describes a market?

A group of sellers of a product

A group of potential buyers of a product

A group of actual buyers of a product

A group of potential and actual buyers of a product (correct)

What is market segmentation?

Dividing the market into distinct groups that share similar characteristics (correct)

Dividing the market into distinct groups that require separate products

Dividing the market into distinct groups based on price

Dividing the market into distinct groups based on geographic location

Which of the following is a characteristic of a market segment?

Unsubstantial

Identifiable (correct)

Inaccessible

Expensive

What are the variables used for segmentation?

Geographic, demographic, psychographic, technological Signup and view all the answers

How can identifying one's unique selling proposition and competitive advantage contribute to a successful marketing plan?

By targeting a specific market segment Signup and view all the answers

Which of the following is NOT a characteristic of a market segment?

Inaccessible Signup and view all the answers

What is the purpose of market segmentation?

To divide the market into distinct groups Signup and view all the answers

What is a market segment?

A subgroup of the total consumer market Signup and view all the answers

What are the steps to target marketing?

Dividing the market into distinct groups, identifying market needs and wants, and developing market coverage strategies Signup and view all the answers

What are the variables used for segmentation?

Geographical, demographic, psychographic, and behavioral Signup and view all the answers

Market Segmentation and Target Market Quiz

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Questions and Answers

Which of the following best describes a market?

What is market segmentation?

Which of the following is a characteristic of a market segment?

What are the variables used for segmentation?

How can identifying one's unique selling proposition and competitive advantage contribute to a successful marketing plan?

Which of the following is NOT a characteristic of a market segment?

What is the purpose of market segmentation?

What is a market segment?

What are the steps to target marketing?

What are the variables used for segmentation?

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