Paper 1+2 Divider 5

Question 1

Segmentation

Answer 1

Dividing the whole into smaller groups by identifying consumers with similar needs or characteristics

Question 2

Demographic

Answer 2

Age, gender, family size, ethnic origin, socio-economic class, e.g, nappies

Question 3

Geographic

Answer 3

City, global, country, county, iron bruh Scotland

Question 4

Income

Answer 4

Low, middle, high, rich, makeup

Question 5

Behaviour

Answer 5

Lifestyle, frequency of use, railcards

Question 6

Targeting

Answer 6

Deciding what segment a business should focus on

Question 7

Positioning

Answer 7

Influencing how customers perceive the product in comparison to others

Question 8

Benefits of segmenattaion

Answer 8

• increase sales revenue
• change higher prices
• greater diversification
• help identify new business opportunities

Question 9

Factors on choosing on market

Answer 9

• size of market segment
• rate and growth
• ease
• competition

Question 10

Factors on positioning

Answer 10

—state of the economy
—company reputation
—perception of existing products

Question 11

Niche marketing

Answer 11

Tailoring a product to meet the needs of a specific group

Question 12

Niche marketing adv

Answer 12

Fewer competitors

Reduce spending on promotion

Question 13

Niche marketing disad

Answer 13

May result in lower production volumes

Question 14

Mass marketing

Answer 14

Devising products will mass appea

Question 15

Mass marketing adv

Answer 15

Reach more customers

High sales volume

Question 16

Mass marketing disad

Answer 16

• may not satisfy customer needs

- high competition levels