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Market Segmentation and Target Market Quiz
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Market Segmentation and Target Market Quiz

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Questions and Answers

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?

    <p>Geographic, demographic, psychographic, technological</p> Signup and view all the answers

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

    <p>By targeting a specific market segment</p> Signup and view all the answers

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

    <p>Inaccessible</p> Signup and view all the answers

    What is the purpose of market segmentation?

    <p>To divide the market into distinct groups</p> Signup and view all the answers

    What is a market segment?

    <p>A subgroup of the total consumer market</p> Signup and view all the answers

    What are the steps to target marketing?

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

    What are the variables used for segmentation?

    <p>Geographical, demographic, psychographic, and behavioral</p> Signup and view all the answers

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