1.2.3 Market segmentation Flashcards by Kushmita Ramphul

{ "@context": "https://schema.org", "@type": "Organization", "name": "Brainscape", "url": "https://www.brainscape.com/", "logo": "https://www.brainscape.com/pks/images/cms/public-views/shared/Brainscape-logo-c4e172b280b4616f7fda.svg", "sameAs": [ "https://www.facebook.com/Brainscape", "https://x.com/brainscape", "https://www.linkedin.com/company/brainscape", "https://www.instagram.com/brainscape/", "https://www.tiktok.com/@brainscapeu", "https://www.pinterest.com/brainscape/", "https://www.youtube.com/@BrainscapeNY" ], "contactPoint": { "@type": "ContactPoint", "telephone": "(929) 334-4005", "contactType": "customer service", "availableLanguage": ["English"] }, "founder": { "@type": "Person", "name": "Andrew Cohen" }, "description": "Brainscape’s spaced repetition system is proven to DOUBLE learning results! Find, make, and study flashcards online or in our mobile app. Serious learners only.", "address": { "@type": "PostalAddress", "streetAddress": "159 W 25th St, Ste 517", "addressLocality": "New York", "addressRegion": "NY", "postalCode": "10001", "addressCountry": "USA" } }

What is Market segmentation?

Market segmentation is the proccess of dividing the market into smaller groups of customers with similar characteristic.

How well did you know this?

Not at all

Perfectly

What are the main market segements?

Location ,demographic,lifestyle,income and age.

How well did you know this?

Not at all

Perfectly

What are the benefits of segmentation?

A business can create tailored products and marketing strategies.They also have better targetting of specific customer groups . This increases efficency and customer satasifaction .

How well did you know this?

Not at all

Perfectly

What are the drawbacks to market segmentation?

May miss potential customers outside the segments and can be expensive to conduct detailed segmetation

How well did you know this?

Not at all

Perfectly

1.2.3 Market segmentation Flashcards

(4 cards)