Segmentation

Question 1

What does market segmentation mean

Answer 1

Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into subgroups of consumers based on some types of shared characteristics

Question 2

Why should a business use segmentation

Answer 2

Segmentation is a useful technique to help organisation manage a range of relationships, and forms of cornerstone of a good audience development plan

Question 3

How businesses use segmentation

Answer 3

Segmentation is used to identify a group of customers with similar needs
Learning about these customers help the business to customise their products and services

Question 4

Types of segmentation

Answer 4

Gender
Age
Income
Location