targeting and segmenting the market

Question 1

business 2 business

Answer 1

enterprise sells its goods to another enterprise.

Question 2

business 2 consumer

Answer 2

enterprise directly sells its goods to customers.

Question 3

mass market

Answer 3

large segment of a market that targets a large group of customers.

(e.g. normal biscuits)

Question 4

niche market

Answer 4

a small segment of the market with a small number of customers.

(e.g. vegan biscuits)

Question 5

demographic segmentation

Answer 5

when a business focuses their products/promotion on shared population characteristics such as:

age, gender, income, social class, ethnicity, religion, culture, family size.

Question 6

geographic segmentation

Answer 6

when a business focuses on people in different areas, where people live influences what they purchase, for example:

climate, regional tastes in cuisine, cultural characteristics.

Question 7

psychographic segmentation

Answer 7

where a persons personality will influence what they buy, for example:

likes and dislikes, values, lifestyle, attitudes, environmentally conscious customers, healthy fit customers

Question 8

behavioural segmentation

Answer 8

how people buy products which is called their buying behaviour, for example:

loyalty, usage rate/consumption, spending.