5E Flashcards
(6 cards)
1
Q
Niche Market
A
A Niche Market is a small specialised market for a particular product.
2
Q
Mass Market
A
A Mass Market is a large market for products produced on a large scale for a significant number of consumer.
3
Q
Market Segmentation
A
Market Segmentation is the process of diving a market into different groups of consumers that share similar characteristics.
4
Q
Target Market
A
A target market is a specific group of customers which a business aims its marketing efforts towards.
5
Q
Customer behaviour
A
Customer Behaviour is the actions of those who purchase goods and services for consumption.
6
Q
Customer trends
A
Customer Trends are developed patterns in customers’ behaviours, attitudes and values.
