Topic 2- Maketing

Question 1

What is segmentation?

Why would you do it?

Answer 1

Way of grouping customers together that have common characteristics.

Design product to suit target market, ensure your marketing mix suit your target audience. Doing this also reduces the risk of product failure.

Question 2

What are some methods of segmentation?

Answer 2

• income
• age
• gender
• location

Question 3

What is primary market research?

What is secondary market research?

Answer 3

First hand information is collected for a specific purpose.

Using information that already exists for a specific purpose.

Question 4

What is the difference between E commerce and M commerce?

Answer 4

E-commerce is where people buy and sell on a virtual environment. M-commerce is through the use of mobile phones.