Understanding Market Segmentation with Gymshark

What is the primary reason for businesses to use market segmentation?

• To reduce marketing costs

• To limit the range of products offered

• To understand and meet the diverse needs and wants of people

• To increase product prices

Which of the following is NOT a key factor used in market segmentation?

• Location

• Demographics

• Favorite colour

• Income

What type of segmentation is based on where the target market lives?

• Behavioral segmentation

• Geographical segmentation

• Income segmentation

• Lifestyle segmentation

Which company's menu varies across the world to cater to local tastes?

• Asos

• Gymshark

• McDonald's

• Tesla

What is Gymshark's main target demographic?

• 18–25-year-olds of any gender

• Children under 12

• Men over 40

• Women looking for affordable fashion

How does Gymshark primarily reach its target audience?

• Television advertisements

• Billboards

• Radio commercials

• Social media and influencers

What type of segmentation relates to consumer buying behaviour?

• Behaviourial segmentation

• Demographic segmentation

• Geographical segmentation

• Income segmentation

Which of the following is a key benefit of market segmentation?

• Reducing the variety of products

• Increasing brand loyalty and repeat custom

• Decreasing marketing costs

• Simplifying product designs

What potential drawback does market segmentation have?

• Reduced need for customer service

• Increased costs due to research and development

• Simpler marketing strategies

• Decreased brand awareness

Which market segment does Gymshark NOT specifically target?

• Customers interested in high-end quality gym wear

• Young adults interested in fitness and fashion

• Customers with lower levels of disposable income

• Customers with high earning potential