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Targeting and Segmenting the Market

Quiz by Matthew Bradley

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10 questions
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  • Q1
    Which of the following best describes market segmentation?
    The analysis of a single product's sales data
    The process of dividing a broad target market into subsets of consumers with common needs
    The act of advertising only to existing customers
    The reduction of marketing costs by targeting one specific demographic
    30s
  • Q2
    What is a target market?
    Any individual who might see an advertisement
    The total population of a country
    All consumers who have bought a product
    A specific group of consumers at which a company aims its products and services
    30s
  • Q3
    Which of the following is NOT a common basis for market segmentation?
    Demographics
    Geographics
    Psychographics
    Personal hygiene habits
    30s
  • Q4
    What is the primary purpose of targeting in marketing?
    To conduct market research on competitors
    To effectively allocate resources towards potential customers who are likely to buy the product
    To create a brand logo
    To increase the number of products manufactured
    30s
  • Q5
    What is the difference between mass marketing and targeted marketing?
    Mass marketing uses social media only
    Targeted marketing requires no research about consumer preferences
    Targeted marketing is more expensive than mass marketing
    Mass marketing aims to reach a large audience, while targeted marketing focuses on specific segments of the market
    30s
  • Q6
    Which segmentation variable would be most appropriate for a luxury car brand?
    Favorite color
    Income level
    Preferred mode of transportation
    Number of pets
    30s
  • Q7
    What does psychographic segmentation focus on?
    The lifestyles, values, interests, and personalities of consumers
    The income levels of consumers
    The geographical location of consumers
    The age and gender of consumers
    30s
  • Q8
    What is the main advantage of using market segmentation?
    It guarantees that all customers will buy the product
    It allows businesses to tailor their marketing strategies to meet the specific needs of different consumer groups
    It increases the size of the overall market
    It reduces the price of the products for all consumers
    30s
  • Q9
    Which of the following best describes demographic segmentation?
    Grouping consumers geographically
    Dividing a market based on observable characteristics such as age, gender, and income
    Focusing on the benefits consumers seek from a product
    Segmenting based on consumer attitudes and lifestyles
    30s
  • Q10
    What is the significance of understanding buyer behavior in market segmentation?
    It standardizes products for all segments
    It makes pricing more affordable for all consumers
    It eliminates the need for market research
    It helps marketers anticipate how different segments will respond to marketing strategies
    30s

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