7.2 Targeting consumer groups Flashcards
1
Q
What is the first stage of the marketing process?
A
To target particular groups of customers
2
Q
How can banks group people when using market segmentation?
A
- Age
- Gender
- Family status
- Income
- Occupation
3
Q
What are the advantages for a provider from targeting a specific group?
A
- Helps to maximise sales
- Get the best value from marketing budget
- Does not waste money trying to reach customer profile that does not fit product
4
Q
What is the most useful type of categorisation for financial services provider to define people in terms of?
A
Product-buying behavioir
