Learning Aim C Flashcards
(13 cards)
What is target market segmentation?
Target market segmentation includes demographics, geographic, psychographic, behavioural, and B2B targeting.
What are the components of demographics in market segmentation?
Demographics include age, race, religion, gender, family size, ethnicity, income, education level, disability, and socio-economic group.
What does geographic segmentation refer to?
Geographic segmentation refers to the location of the target market.
What does psychographic segmentation encompass?
Psychographic segmentation encompasses social class, attitudes, lifestyle, and personality characteristics.
What factors are included in behavioural segmentation?
Behavioural segmentation includes spending, consumption, rate of usage, loyalty status, and desired benefits.
What is B2B targeting?
B2B targeting involves organisation size, scope, purpose, culture, type of product, industry type, budget holder/purchasing decision maker, and budget size.
What are customer needs and wants?
Customer needs and wants include functional benefits, emotional benefits, physiological benefits, and luxury or necessity.
What processes are involved in consumer behaviour?
Consumer behaviour processes include what, how much, when, why, impulse purchases, routine purchases, limited decision making, and extensive decision making.
What is an external customer?
An external customer is a person or external organisation who buys products.
What is an internal customer?
An internal customer is a person directly connected to the organisation, including stakeholders, employees, and shareholders.
What is a consumer?
A consumer is a person or business who uses the products they have bought or were bought for them.
What is the difference between physical goods and intangible services?
Physical goods are tangible products, while intangible services are non-physical offerings.
What are customer profiles?
Customer profiles include demographics, psychographics, and behavioural data, using web analytics to create user profiles of individual consumers.
