unit 2 market segm entation Flashcards
market segmentaion
how the market for a product is divided into segments at which a product may be aimed
actions of market segmentations
increase sales
you must do market research
informing a customer of product may vary
reasons of market segmentations
to target audience
set right prices and promotion for consumers
target the demographic
use the right adverts
good service and catering
avoid wastes
not producing a good unneeded
marketing to he wrong group
why
meet the needs of people efficiently
ways that you can split the market
age gender income lifestyles location
age
population can split bey age e.g. 10-16
children will have same need as other children but not with adults
gender
makeup is traditionally female but diy is usually for males
adidas caters to both genders but is slightly different
income
richer people buy expensive items typically
vice versa
lifestyles
different hobbies e.g runners, tech nerds etc
rich people may have an interest with yachts
linked with fame and family status e.g a family of five will have different interest of a single man
location
city people may have small cars country folk may have big 4x4 cars
countryside
boots 4x4 cars wellies
city centre
oyster cards yeezys
coastal
boats bucket spades
