9. Identifying The Target Market

Question 1

What are the four sets of variables that segmentation is often based on?

Answer 1

Geographical
Demographic
Psychographic
Behavioural

Question 2

What is segmentation?

Answer 2

The division of the market place into distinct subgroups or segments, each characterised by particular tastes and requiring a specific marketing strategy.

Question 3

What do demographic variables include?

Answer 3

Age
Gender
Ethnicity 
Family status 
Income
Level of education
Occupation 
Socioeconomic status

Question 4

What do geographical variables include?

Answer 4

Neighbourhood
Rural vs urban
Country
Region
City

Question 5

What do psychographic variables include?

Answer 5

Lifestyle
Personality
Values and beliefs
Interests

Question 6

What do behavioural variables include?

Answer 6

What benefit do they want from wine? When do they buy wine?
Where do they buy wine? How often do they buy wine and in what volume?
What is their level of brand loyalty?
What is their level of interest in wine?
Are they early adopters or late adopters?

Question 7

What three groups are wine consumes spilt in to?

Answer 7

Wine lovers
Wine interested
Wine curious

Question 8

What is market research?

Answer 8

The gathering and analysis of data about a particular market segment in order to understand what the segment wants or needs

Question 9

To make sure market research is done correctly and the aims of it are met, what questions can be asked to make sure the focus is correct?

Answer 9

What information is needed?
From whom will the researchers gather data?
How will the research be carried out?

Question 10

What are the options for how research can be carried out?

Answer 10

Survey
Focus group
Interviews
Observing consumer behaviour 
Secondary research

Question 11

Why would you observe consumer behaviour?

Answer 11

Find out needs and wants

To monitor the success of a campaign and possibly to make adjustments to make it more successful