BASICS
This is the practice of dividing your target market into approachable groups
What is market segmentation?
This simple segmentation style creates different target customer groups based on geographical boundaries
What is Geographic segmentation?
Targeting customers based on how often they pay for a Retro Fitness membership or an HBO subscription is an example of this segmentation
What is Behavioral segmentation?
A marketer decides where to expand their business by researching the regional differences and climates across the United States
grographic
What year was the first iPhone released?
2007
Name three benefits of market segmentation
What are stronger marketing message, developing effective marketing strategies, increasing brand loyalty, increased brand development, or increased profits?
This type sorts a market by elements such as age, income, family size, race, gender, and occupation
What is Demographic segmentation?
A business uses this type of segmentation to understand the climates and geographic regions of customer groups to determine where to sell and advertise
What is Geographic segmentation?
A company targets consumers by ensuring their advertising budget focuses on groups based on their income level and occupation, as these factors often determine how much they are willing to spend
demographic
Which university did Microsoft founder Bill Gates drop out of?
Harvard
By understanding your market segments, you can leverage this targeting in product, sales, and these specific strategies
What are marketing strategies?
This method divides markets by behaviors and decision-making patterns such as purchase behavior, consumption, lifestyle, and usage
What is Behavioral segmentation?
You should use this type of segmentation when you want to target customers based specifically on their values or lifestyle
What is Psychographic segmentation?
An advertising team analyzes consumer data to focus on decision-making patterns such as how frequently customers make a specific purchase, like buying coffee at Wawa or paying for a Golf Tee time
Originally, Amazon only sold what kind of product?
Books
The sources state that the products and services we buy, how we use them, and how much we are willing to spend are most often based on these factors
Demographic factors
Described as "more advanced," this segmentation considers the psychological aspects of consumer behavior, including personality traits, values, opinions, and interests
What is Psychographic segmentation?
Segmentation based on education level or nationality falls under this category
What is Demographic segmentation?
A brand develops a niche product and targets customers by appealing specifically to their core interests and opinions, rather than just their age or gender
psychographic
As of 2019, what is the most popular car color in the USA?
White
Leonardo da Vinci's “Mona Lisa” hangs in what museum?
The Louvre
How many states does the Appalachian Trail cross?
14
What company was originally called “Blue Ribbon Sports”?
Nike
The Eye of Sauron appears in which film trilogy?
Lord of the Rings
What is Thomas Edison's most famous invention?
Lightbulb