Segmentation Flashcards
1
Q
What is market segmentation?
A
Market segmentation is the process of dividing potential customers into different groups based on characteristics like age, gender, income and much more.
2
Q
Why do businesses uses market segmentation?
A
Choosing market mix
Choosing promotion
Market mapping (a process to identify a gap in the market by looking at what competitors offer).
3
Q
What variables can customers be segmented on?
A
Income
Age
Location
Gender
