Market Segmentation & Targeting Flashcards
1
Q
What is Market Segmentation?
A
Splitting buyers into groups.
2
Q
What is a Target Market?
A
The main group buying.
3
Q
What is a Customer Profile?
A
Description of likely buyer.
4
Q
What are Demographics?
A
Personal facts like age, gender.
5
Q
What is Geographic Segmentation?
A
Grouping by location.
6
Q
What are Psychographics?
A
Interests, values, and lifestyle.
7
Q
What is Benefit Segmentation?
A
Grouping people by product benefits.
8
Q
What is Mass Marketing?
A
Selling to everyone together.
9
Q
What is a Niche Market?
A
Selling to a small specific group.
10
Q
What is Product Usage?
A
How much people use something.
11
Q
Key Concept: Why Segment?
A
Companies group customers to sell the right products to the right people.
