market segmentation

Question 1

define market segmentation

Answer 1

dividing the mass market into subgroups of consumers with similar characteristics

Question 2

name 4 segments

Answer 2

• demographic
• geographic
• income
• behavioural

Question 3

expand on demographic

Answer 3

breaking customers down into groups based on their characteristics
e.g. gender, age, population

Question 4

expand on geographic

Answer 4

customers from different parts of a country may have different needs & wants
e.g. urban/ rural, type of climate, terrain structure

Question 5

expand on income

Answer 5

people in different income brackets have different needs and wants

e. g. supermarket industry catering for budget cautious, middle income, high income
- metrics vary from: quality, taste, ingredients