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B Com Exam  >  B Com Tests  >  Test: Market Segmentation - 1 - B Com MCQ

Test: Market Segmentation - 1 - B Com MCQ


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10 Questions MCQ Test - Test: Market Segmentation - 1

Test: Market Segmentation - 1 for B Com 2024 is part of B Com preparation. The Test: Market Segmentation - 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Market Segmentation - 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Market Segmentation - 1 below.
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Test: Market Segmentation - 1 - Question 1
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What is the primary purpose of market segmentation for marketers?

Detailed Solution for Test: Market Segmentation - 1 - Question 1
Market segmentation allows marketers to tailor their marketing efforts and campaigns to specific groups of customers with similar characteristics. This personalization increases the effectiveness of marketing strategies and leads to better results in terms of conversions and customer engagement.
Test: Market Segmentation - 1 - Question 2
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Which of the following is a basis for market segmentation?

Detailed Solution for Test: Market Segmentation - 1 - Question 2
Market segmentation can be based on various factors, including attitudes, interests, values, and other psychographic characteristics of consumers. This helps marketers understand the preferences of different groups and tailor their marketing strategies accordingly.
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Test: Market Segmentation - 1 - Question 3
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Which type of segmentation divides the market based on geographical location?

Detailed Solution for Test: Market Segmentation - 1 - Question 3
Geographic segmentation divides the market based on geographical factors, taking into consideration differences in customer needs and preferences due to varying locations.
Test: Market Segmentation - 1 - Question 4
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What is the main purpose of product differentiation?
Detailed Solution for Test: Market Segmentation - 1 - Question 4
Product differentiation involves emphasizing a product's unique attributes to distinguish it from competitors and attract target customers. It aims to highlight what makes the product special and valuable.
Test: Market Segmentation - 1 - Question 5
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Which target market strategy offers a separate marketing mix to each segment?
Detailed Solution for Test: Market Segmentation - 1 - Question 5
Selective specialization, also known as a differentiated strategy, involves offering different marketing mixes to different market segments based on their unique characteristics and needs.
Test: Market Segmentation - 1 - Question 6
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How does market segmentation assist in reducing competition?
Detailed Solution for Test: Market Segmentation - 1 - Question 6
Market segmentation with product differentiation allows a business to highlight unique features and attributes of a product, reducing direct competition. Customers become less price-sensitive and more focused on the distinct qualities of the product.
Test: Market Segmentation - 1 - Question 7
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Which type of segmentation is based on consumers' personality and lifestyle?
Detailed Solution for Test: Market Segmentation - 1 - Question 7
Psychographic segmentation divides the audience based on personality, lifestyle, and attitudes. This segmentation acknowledges that consumer behavior is influenced by these psychological factors.
Test: Market Segmentation - 1 - Question 8
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What is a key factor to consider when evaluating the attractiveness of a market segment?
Detailed Solution for Test: Market Segmentation - 1 - Question 8
Competition in the segment is an important factor to consider when evaluating the attractiveness of a market segment. High competition can impact the potential profitability of serving that segment.
Test: Market Segmentation - 1 - Question 9
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How does product positioning contribute to a company's marketing strategy?
Detailed Solution for Test: Market Segmentation - 1 - Question 9
Product positioning involves effectively communicating a product's advantages to customers. This helps a company differentiate its product from competitors and attract customers by highlighting unique features.
Test: Market Segmentation - 1 - Question 10
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What is the primary advantage of targeting smaller market segments with low competition?
Detailed Solution for Test: Market Segmentation - 1 - Question 10
Targeting smaller market segments with low competition can lead to higher profit potential, as the company can become a dominant player in that specific segment and capture a larger share of the market without intense rivalry.
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