While researching on the idea of opening his own health club,Tom learned that there are 11 million health club members in the United States,and 90 percent of them are between the ages of 18 and 49.They prefer to exercise with people of their own gender,and the majority of them are urban dwellers.During the process of market segmentation,this information is most likely to be used by Tom for:
A)observational analysis.
B)marketing research.
C)forecasting total market potential.
D)developing a market segment profile.

Question

Quizplus · Accepted Answer

The information provided about health club members' age, gender preference, and urban residence is useful for developing a market segment profile. This information helps Tom understand the characteristics of his target market, which is essential for developing effective marketing strategies and services that cater to their specific needs and preferences. Option A is incorrect because observational analysis involves observing consumer behavior and is not relevant here. Option B is incorrect because marketing research typically involves gathering primary data from consumers, which may or may not be necessary at this stage. Option C is incorrect because forecasting total market potential involves estimating the overall demand for a product rather than segmenting the market based on specific characteristics.

While Researching on the Idea of Opening His Own Health