marketing flashcard
1
Q
how a business segments their market?
A
age, gender, income location
2
Q
purpose/benefits of market segmentation
A
allows the business to create PRODUCTS that customers will want to purchase, allows the business to sell the product in an appropriate PLACE, allows the business to use targeted PROMOTIONS to encourage customers to purchase, allows the business to set an appropriate PRICE for their product/service
3
Q
purpose of market research?
A
market research aims to find out customers needs/wants, how a business could improve their product/service and to stay a head of competition.
