Which of the following is a method for segmenting a market?

Prepare for the OCR Business Paper 1 Test with engaging quizzes featuring flashcards and multiple-choice questions. Each question includes hints and explanations, ensuring you're well-prepared for your exam!

Segmenting a market involves dividing it into distinct groups of consumers who have different needs, characteristics, or behaviors. Gender is a widely recognized method of segmentation because it allows marketers to identify and target specific preferences and purchasing behaviors associated with males and females. By understanding the differences in how various genders approach consumption, marketers can tailor their products, messaging, and overall marketing strategies effectively to meet the needs of each segment.

In contrast, while brand loyalty is related to consumer behavior and can inform marketing strategies, it is more about customer retention and engagement than initial market segmentation. Product range refers to the variety of products offered by a business and doesn't represent a clear-cut method for dividing the market into segments. Seasonal trends can influence buying behavior but are typically not used as a stable basis for segmenting a market; rather, they may affect targeted marketing campaigns temporarily. Thus, gender stands out as a foundational demographic variable that effectively segments a market.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy