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GCSE Business > 1.2.3 Market segmentation > Flashcards

1.2.3 Market segmentation Flashcards

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1
Q

What is a target market?

A

A group of people the product is aimed at

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2
Q

What is a market segment?

A

A group of buyers with similar characteristics and buying habitis

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3
Q

What are the different ways a market can be segmented?

A

Location
Income
Lifestyle
Age
Gender
Race
Religion

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4
Q

What are the benefits of market research?

A

Helps business to understand their customers better
Easier to target your product to specific buyers
Higher levels of customer loyalty

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GCSE Business (7 decks)

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