15 Questions
What is the key reason for market segmentation?
To address the vast differences in people's needs and wants
Which of the following is NOT commonly used as a basis for market segmentation?
Brand loyalty
What does market segmentation help businesses to do?
Understand customer wants and needs
Why might a business fail to attract customers without market segmentation?
It fails to meet anyone's specific needs and wants
What are the key factors and characteristics used for market segmentation?
Location, demographics, behavior, lifestyle, and income
What is the key reason for market segmentation?
To address the vast differences in people's needs and wants
Which of the following is NOT commonly used as a basis for market segmentation?
Brand loyalty
What is the purpose of dividing the market into segments?
To meet the specific needs and wants of different groups
What does market segmentation help businesses to do?
Identify their target market
Which factor is commonly used for market segmentation?
Demographics
What is the key reason for market segmentation?
To cater to the differing wants and needs of people
What are some common factors used for market segmentation?
Location, demographics, behavior, lifestyle, and income
Why might a business fail to attract customers without market segmentation?
Because it may fail to meet anyone’s specific needs and wants
How does market segmentation help businesses like Gymshark?
By dividing the market into groups based on key factors and characteristics
What is the purpose of dividing the market into segments?
To better understand customer wants and needs
Quiz: Test Your Knowledge of Market Segmentation with Gymshark Case Study Test your understanding of market segmentation by taking this quiz featuring Gymshark as a case study example. Challenge yourself with questions about identifying target markets, dividing potential customers into groups, and meeting customer needs.
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