Identifying Market Segments and Target Customers

1. The purpose of market segmentation is to

Identify and target specific customer groups effectively

Increase overall costs

Avoid competition

Standardize all marketing messages

2. Behavioral segmentation can include

Occupation and income

Age and gender

Occasion, benefits sought, user status, and loyalty

Country and climate

3. Market targeting involves

Outsourcing sales

Choosing which segments to serve and how

Conducting internal training

Defining total market

4. Local marketing involves

Global standardization

Adapting brands to local needs and preferences

Ignoring geographic differences

Online-only advertising

5. Micromarketing aims to

Focus on national campaigns

Tailor products to local or individual customers

Reach broad markets

Avoid customization

6. Mass marketing focuses on

Relationship building

Niche market appeal

Individual customization

Offering one product for the entire market

7. A target market refers to

The least profitable customers

Competitor’s loyal customers

A set of buyers sharing common needs that the company decides to serve

Every consumer in the economy

8. Actionable segmentation requires

No marketing effort

No clear customer insight

The company can design effective programs to attract and serve the segment

Lack of distribution

9. Individual marketing (one-to-one) focuses on

Ignoring customer feedback

Customizing products for individual customers

Producing large-scale goods

Reducing costs through standardization

10. Benefit segmentation is based on

Price perception

The specific benefits consumers seek from a product

Cultural background

Shopping frequency

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