Market segmentation (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does market segmentation involve?
What does market segmentation involve?
Dividing customers into distinct groups
What is a market segment?
What is a market segment?
A group sharing similar traits & habits
Which are examples of demographic factors used in segmentation?
Which are examples of demographic factors used in segmentation?
Age groups and gender
What does economic segmentation focus on?
What does economic segmentation focus on?
Income levels & socio-economic groups
Which segmentation type focuses on location-based differences?
Which segmentation type focuses on location-based differences?
Geographic segmentation
What does lifestyle segmentation consider?
What does lifestyle segmentation consider?
Interests, values & activities
How does segmentation help meet customer needs?
How does segmentation help meet customer needs?
By understanding what different groups want
What benefit does product differentiation provide through segmentation?
What benefit does product differentiation provide through segmentation?
Creating unique products for segments
How does segmentation improve marketing activities?
How does segmentation improve marketing activities?
By targeting specific customer groups
What is a limitation of targeting multiple customer segments?
What is a limitation of targeting multiple customer segments?
Increased costs from different products
Why must businesses continually update their segmentation strategies?
Why must businesses continually update their segmentation strategies?
Customer characteristics change over time
Why is market research essential for segmentation?
Why is market research essential for segmentation?
Provides accurate customer information