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Besides geography, volume and benefits, on what else may business markets be segmented?
AThe climate and the population density of the region
BThe use of the product and the size of the client
CThe lifestyle and the personality of the purchaser
DThe age and the education level of the purchaser
Answer & Solution
Correct answer: B. The use of the product and the size of the client
1. Business markets may segment on geography, volume and benefits just as consumer markets do.
2. They may also segment on the use to which the product is put.
3. Other bases are the characteristics of the purchasing function and the size of the client or industry.
4. Climate is geographic, while lifestyle, age and education describe individual consumers.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.5 Market Segmentation_
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