quiz image

Target Market and Market Segmentation Quiz

MrJone$ avatar
MrJone$
·
·
Download

Start Quiz

Study Flashcards

8 Questions

What is the purpose of defining a target market?

To allocate resources and marketing towards specific groups of people

What is an example of geographic segmentation?

Dividing customers based on where they live

What does psychographic segmentation involve?

Dividing customers based on values, hobbies, and interests

Which type of market focuses on broad appeal and targets a large audience?

Mass Market

What is an example of behavioral segmentation?

Dividing customers based on past spending patterns

What is the main reason for market segmentation?

To understand customer needs and behavior more effectively

Psychographic segmentation is...

Segmentation by values, hobbies, interests.

Which of the following is NOT a reason why businesses engage in market segmentation?

To achieve economies of scale in production and distribution

Study Notes

Market Segmentation

  • Defining a target market allows businesses to tailor their products, services, and marketing strategies to meet the specific needs and preferences of a specific group of customers.

Geographic Segmentation

  • An example of geographic segmentation is dividing a market into regions based on location, such as urban, rural, or coastal areas.

Psychographic Segmentation

  • Psychographic segmentation involves dividing a market based on lifestyle, personality, attitudes, values, and interests.
  • Psychographic segmentation is the practice of dividing a market into smaller groups based on psychological characteristics.

Types of Markets

  • A mass market focuses on broad appeal and targets a large audience.

Behavioral Segmentation

  • An example of behavioral segmentation is dividing a market based on usage patterns, such as frequent users, occasional users, or non-users.

Purpose of Market Segmentation

  • The main reason for market segmentation is to identify and target specific groups of customers with tailored products, services, and marketing strategies.

Reasons for Market Segmentation

  • Businesses engage in market segmentation to identify and target specific groups of customers, but not to avoid competition.

Test your knowledge on targeting and segmenting the market, including the definition of target market and market segmentation, its purpose, and examples. Explore how enterprises allocate resources and marketing efforts towards specific groups of people. Understand the concept of dividing a big group of people into smaller groups based on interests or characteristics.

Make Your Own Quizzes and Flashcards

Convert your notes into interactive study material.

Get started for free

More Quizzes Like This

Quiz de Segmentación de Mercados
5 questions
Market Segmentation Quiz
15 questions

Market Segmentation Quiz

UncomplicatedEcstasy avatar
UncomplicatedEcstasy
Segmentación de Mercados en Marketing
5 questions
Use Quizgecko on...
Browser
Browser