Market Segmentation Flashcards
(6 cards)
1
Q
what is market segmentation
A
splitting the market for a product or service into different segments
2
Q
how can you segment a market
A
age, gender, income, location, lifestyle
3
Q
why should you segment a market
A
to target products to satisfy different needs of customers
4
Q
what should businesses consider when targeting different segments
A
- producing different products for different markets
- what price to charge from high to low
- how to promote the products using social media
- where to locate shops and sell online
5
Q
what is an example of segmenting a business by location
A
business suits for people living and working in a city, tweeds for people living in the countryside
6
Q
what is an example of segmenting a business by lifestyle
A
lycra for cycling enthusiasts, large flat screen TVs for viewing enthusiasts
