Market Segmentation Flashcards
1
Q
What is market segmentation
A
Occurs when the market is split into subgroups of consumers with similar characteristics
2
Q
What is demographic segmentation
A
Based on their demographic profile e.g. Gender/ age
3
Q
What is geographic segmentation
A
Based on where people live
4
Q
What is income segmentation
A
Based in people’s levels of income and profession
5
Q
What is behavioural segmentation
A
Based on behavioural patterns of consumers e.g how often the buy
6
Q
What are he benefits of market segmentation
A
1) target at specific market segments
2) indenting least and most profitable customers
3) easy to identify new products
