Market Segmentation

Question 1

What is Market Segmentation?

Answer 1

The practice of dividing your target market into approachable groups

Question 2

What are the 4 types of Market Segmentation?

Answer 2

Geographic, Demographic, Psychographic and Behavioral

Question 3

What are some groups that would fall under Georaphics?

Answer 3

Answers could include
Urban/Rural areas, Postcodes

Question 4

What are some groups that could fall under Demographics?

Answer 4

Answers could include
Age, Gender, Occupation

Question 5

What are some groups that could fall under Psychographics?

Answer 5

Answers could include
Values, Hobbies, Needs, Opinions

Question 6

What are some groups that could fall under Behavioural?

Answer 6

Answers could include
Spending Habits, Brand Interactions, Customer Loyalty

Question 7

Name some benefits of Market Segmentation

Answer 7

Answers could include
-Improves Campaign performance
-Informs Product development
-Reveals areas to expand
-Improves business focus
-Informs other business decisions

Question 8

What Group categories would postcodes and languages go under?
In Market Segmentation

Answer 8

Geographics

Question 9

What group categories would Age and gender go under?
In Market Segmentation

Answer 9

Demographic

Question 10

What group categories would Values, opinions and hobbies go under?
In Market Segmentation

Answer 10

Psychographic

Question 11

What group categories would spending habits and brand interactions go under?
In Market Segmentation

Answer 11

Behavioural