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The owner of a toy shop wishes to use market segmentation to target customers - OCR - GCSE Business - Question 14 - 2022 - Paper 1
Question 14
The owner of a toy shop wishes to use market segmentation to target customers. What is an example of market segmentation? A Encouraging customers into the shop by p... show full transcript
Worked Solution & Example Answer:The owner of a toy shop wishes to use market segmentation to target customers - OCR - GCSE Business - Question 14 - 2022 - Paper 1
Step 1
What is an example of market segmentation?
Answer
Market segmentation refers to the process of dividing a broad consumer or business market into sub-groups of consumers based on some shared characteristics. An example would be organizing the toys in the shop by age group (Option C), as this directly targets specific customer segments based on their age, thereby enabling more effective marketing and product placement.