In the Context of Bases for Segmentation,which of the Following

question 36

Multiple Choice

In the context of bases for segmentation,which of the following is a difference between psychographic segmentation and benefit segmentation?

• A)Psychographic segmentation attempts to measure consumer value systems,whereas benefit segmentation attempts to segment markets based on the degree to which consumers are innovative.
• B)Psychographic segmentation focuses on consumer lifestyles,whereas benefit segmentation focuses on the advantages sought by the consumer.
• C)Psychographic segmentation is clearly a market-oriented approach,whereas benefit segmentation is clearly a product-oriented approach.
• D)Psychographic segmentation is used to keep track of any changes in a market that might affect marketing strategy,whereas benefit segmentation is used to better focus elements of the marketing mix.

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Definitions:

Monopoly

A market structure in which a single seller controls the entire market for a product or service, facing no competition.

Natural Monopoly

A market condition where a single firm can supply a product or service more efficiently than multiple firms, leading to a lack of competition.

Patent

A Patent is a legal document granted by the government, giving an inventor exclusive rights to manufacture, use, or sell an invention for a certain number of years.

Exclusive Use

The right to use a property or product without sharing it with others, often refers to licenses or real estate.