1.1.2 market segmentation

Question 1

definition market segmentation

Answer 1

identifiable group of individuals or part of a market where customers share one or more characteristics or needs
diving a meaket in smaller groups with similar characteristics/needs

Question 2

market segmentation kinds

Answer 2

location - a business may decide to sell its products in just one country, one region
demogrphics- statistical data relating to the population and particular groups within it (helps book publishers target customers)
lifestyle- to the way customers live their their lives and share attitues e.g. hobby, kids
income - amount of salary, type of job and social class (divided in low middle high income)
age - each age group diffrent needs and wants
gender - aimed either men or women

Question 3

what use of it can we use to support market research

Answer 3

websites, social media, databases