Market Segmentation Techniques Quiz
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Questions and Answers

Which type of bases include information measurable and identifiable, indicating consumer needs and preferences?

  • Benefit bases
  • Descriptive bases (correct)
  • Market aggregation bases
  • Behavioral bases

    • What is another term for market segmentation?

  • Concentrated marketing
  • Targeted marketing
  • Differentiated marketing (correct)
  • Undifferentiated marketing

    • What type of bases focuses on helping businesses identify what consumers seek when purchasing a product?

  • Descriptive bases
  • Benefit bases (correct)
  • Market aggregation bases
  • Behavioral bases

    • Which type of bases include information that is difficult to measure using simple market research methodologies?

    <p>Behavioral bases</p> Signup and view all the answers

    What does market aggregation involve in terms of the number of consumers being targeted?

    <p>Marketing to a large group with similar needs and demands</p> Signup and view all the answers

    Which strategy allows for more exposure to a product or service through targeting a large number of consumers with similar needs and demands?

    <p>Differentiated marketing</p> Signup and view all the answers

    What is the main difference between market segmentation and market aggregation?

    <p>Market segmentation targets consumers with similar needs, while market aggregation targets a large group of consumers with identical needs.</p> Signup and view all the answers

    What assumption is made in market segmentation?

    <p>Consumers have similar needs and wants.</p> Signup and view all the answers

    How is marketing approach different in market segmentation compared to market aggregation?

    <p>Market segmentation tailors marketing to the preferences of different segments, while market aggregation uses a mass marketing approach.</p> Signup and view all the answers

    In terms of pricing, what sets product pricing in market segmentation apart from pricing in market aggregation?

    <p>Product pricing in market segmentation is lower due to reduced production and marketing costs, while it is higher in market aggregation.</p> Signup and view all the answers

    What does market aggregation involve when marketing a product or service?

    <p>Marketing to a large number of consumers with identical needs and demands.</p> Signup and view all the answers

    How does market segmentation affect the way products are marketed compared to market aggregation?

    <p>Products are marketed using a standardized approach in market segmentation but a personalized approach in market aggregation.</p> Signup and view all the answers

    What is the purpose of market segmentation?

    <p>To form prospective buyers into groups with similar characteristics</p> Signup and view all the answers

    Which step is NOT part of creating a target market profile?

    <p>Incorporating random characteristics</p> Signup and view all the answers

    What is the consequence of not properly segmenting a target market?

    <p>Target market will be considered as a general population</p> Signup and view all the answers

    Why do huge businesses usually adopt market segmentation?

    <p>To cater to niche markets with specific needs</p> Signup and view all the answers

    What does customer profiling involve?

    <p>Gathering detailed information about customers</p> Signup and view all the answers

    Which characteristic is essential in building a realistic persona for market segmentation?

    <p>Incorporating important characteristics</p> Signup and view all the answers

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