Market Segmentation (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does market segmentation involve?
What does market segmentation involve?
Dividing markets into distinct segments
Which approach involves producing one product for a single segment?
Which approach involves producing one product for a single segment?
Niche targeting
Geographic segmentation divides markets based on what?
Geographic segmentation divides markets based on what?
Where customers live & location traits
Which segmentation method is described as most common & straightforward?
Which segmentation method is described as most common & straightforward?
Demographic segmentation
In IPA social class classification, what % are in grade C2?
In IPA social class classification, what % are in grade C2?
33%
What is the estimated value of the kosher food market in the US?
What is the estimated value of the kosher food market in the US?
$100 billion
Psychographic segmentation groups customers according to what?
Psychographic segmentation groups customers according to what?
Attitudes, opinions, values & lifestyles
What is a limitation of psychographic segmentation?
What is a limitation of psychographic segmentation?
Data on beliefs & attitudes is hard to get
Tesco Clubcard exemplifies which type of behavioural segmentation?
Tesco Clubcard exemplifies which type of behavioural segmentation?
Loyalty
What strategy involves charging different prices based on willingness to pay?
What strategy involves charging different prices based on willingness to pay?
Price discrimination