2.3 Market Segmentation Flashcards
1
Q
Define market segmentation.
A
Splitting the market for a product or service into different groups or categories with similar characteristics.
2
Q
Why do businesses segment the market?
A
It helps to identify the target market more effectively.
To avoid waste e.g. advertising in places your target market won’t see.
3
Q
How can a business segment the market?
A
Age Gender Income Location Lifestyle (hobbies and interests)
4
Q
Name a product that you believe is aimed at an higher income segment.
A
Designer goods
High value watches
Luxury cars
5
Q
Name a product/business that you believe is aimed at a lower income segment.
A
Primark
Poundland
Home Bargains
6
Q
Where could you advertise products aimed at children?
A
Children’s television programs.
