2.3 Market segmentation

Question 1

What is market segmentation?

Answer 1

-how the market for a product or service is divided up into segments at which a product may be aimed.
-Each segment is a group of customers with similar chartarestics

Question 2

why would a business segment a market?

Answer 2

•to target particular groups of consumers so the product, price and promotion can match what the customers needs and wants

Question 3

what are some commonly used categories for business segmentation?

Answer 3

•Age
•Gender
•Income
•Location