Market Segmentation (Edexcel A-Level Business): Flashcards
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Practise the cards
10 cards from this deck
Market segmentation definition
Market segmentation definition
Dividing a market into distinct sections called market segments
Geographic segmentation
Geographic segmentation
Dividing markets based on where customers live & location traits
Demographic segmentation
Demographic segmentation
Dividing markets by measurable population characteristics
Psychographic segmentation
Psychographic segmentation
Grouping customers by attitudes, opinions, values & lifestyles
Behavioural segmentation
Behavioural segmentation
Dividing markets based on how consumers interact with products
3 strategic approaches to market segmentation
3 strategic approaches to market segmentation
Niche targeting, multi-segment targeting, mass market approach
Socio-economic groups from highest to lowest status
Socio-economic groups from highest to lowest status
A, B, C1, C2, D, E
Price discrimination in segmentation
Price discrimination in segmentation
Charging different prices based on willingness to pay
Usage rate (behavioural segmentation)
Usage rate (behavioural segmentation)
Categorising by quantity & frequency of purchases
Loyalty (behavioural segmentation)
Loyalty (behavioural segmentation)
Grouping consumers by their brand loyalty levels