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Market segmentation is the process of dividing large markets into smaller, more efficiently reachable markets with products and services that match unique needs.
True
Geographic segmentation divides the market based on variables such as age, gender, family size, and family life cycle.
False
Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product.
True
Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality traits.
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The STP model stands for Segmenting, Targeting, and Positioning.
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Demographic segmentation divides the market into groups based on variables such as age, gender, family size, and family life cycle.
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Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities.
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STP model stands for Segmenting, Targeting, and Positioning.
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Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product.
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Market segmentation is the process of dividing large markets into smaller, more efficiently reachable markets with products and services that match unique needs.
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