Master the Art of Market Segmentation
5 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following best defines market segmentation?

  • The process of dividing a market into smaller groups with different products
  • The process of dividing a market into larger groups with different products
  • The process of dividing a market into smaller groups with similar needs (correct)
  • The process of dividing a market into larger groups with similar needs

    • Why do businesses make different versions of their products?

  • To increase production costs
  • To better suit the needs of different customer groups (correct)
  • To confuse customers
  • To meet the needs of all customers with a single product

    • How does market segmentation help businesses?

  • By adapting their products to better suit the needs of specific customer groups (correct)
  • By making their products more expensive
  • By reducing the number of customers
  • By increasing their production costs

    • How does the car industry segment the market?

    <p>By the size of the car (D)</p> Signup and view all the answers

    How many different segments does the Society of Motor Manufacturers and Traders (SMMT) identify in the car industry?

    <p>9 (B)</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser