Market Segmentation

Question 1

What are some key aspects of effective marketing?

Answer 1

Identifying customer needs
Meeting the customer needs

Question 2

Difficulties with Market Segmentation

Answer 2

Firms can find it difficult to identify the most important segments for a product
Constant research is needed to keep up to date with consumer tastes
Products may become too specific for one market segment not catering to the tastes of others thereby reducing sales

Question 3

Positioning maps

Answer 3

Low and High quality
*See the map on google and photos