Market Mapping - Unit 1 Flashcards
1
Q
What does analysing customer buying habits include? Include at least 1.
A
- Finding information about customers
- Looking at existing businesses and trying competitors’ products
- Observation and surveys
2
Q
What are market segments?
A
A group of buyers with similar characteristics and buying habits.
3
Q
Segmentation allows a business to… Name at least 2.
A
- Meet specific customer needs
- Differentiate their products
- Focus on a specific group of customers
- Target marketing activity
- Develop a unique brand image
- Build close customer relationships
4
Q
A market mapping diagram can be used to… (2)
A
- Position and compare products in a market
* Identify opportunities where customer needs are not being met
