5 Questions
Which of the following best defines market segmentation?
The process of dividing a market into smaller groups with similar needs
Why do businesses make different versions of their products?
To better suit the needs of different customer groups
How does market segmentation help businesses?
By adapting their products to better suit the needs of specific customer groups
How does the car industry segment the market?
By the size of the car
How many different segments does the Society of Motor Manufacturers and Traders (SMMT) identify in the car industry?
9
Test your knowledge on market segmentation with this quiz! Learn why businesses create different versions of their products and how market segmentation helps divide a market into smaller groups based on consumers' needs, wants, and characteristics.
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