Exam - Q5

Question 1

Market segmentation

Answer 1

Market segmentation involves dividing a market into distinct groups of buyers who have different needs, characteristics or behaviours, and who might require separate products or marketing programmes

Question 2

Market segment

Answer 2

A market segment is a group of consumers who respond in a similar way to a given set of marketing efforts

Question 3

Positioning strategy

Answer 3

The angle a company wants to take when it comes to marketing their product. Often summed up in a short catch phrase