3.3.3 making marketing decisions: segmentation, targeting, positioning

Question 1

How businesses use marketing

Answer 1

1- choose which customers to serve
market segmentation
targeting

2- decide how to serve those customers
product differentiation
marketing position

Question 2

What is market segmentation

Answer 2

involves dividing a market into parts that reflect different customer needs and wants

Question 3

Main categories of market segment

Answer 3

demographic segments
geographic segments
income segments
behavioural segments

Question 4

What is demographic segmentation

Answer 4

dividing market into segments based on demographic variables such as age, gender, family, lifestyle, religion, nationality, ethnicity etc

Question 5

What is income segmentation

Answer 5

dividing market into different income segments, often on the basis of social-economic grouping

Question 6

what is behavioural segmentation

Answer 6

dividing a market into segments based on the different ways customers use or respond to a product and the benefits they seek