Market segmentation (OCR GCSE Business): Flashcards
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Market segmentation
Market segmentation
Dividing market into subgroups based on different factors
5 market segmentation factors
5 market segmentation factors
Age, gender, income, location, lifestyle
Benefits of market segmentation (3)
Benefits of market segmentation (3)
Target customers effectively, modify marketing mix, create better budgets
Segmentation benefit: targeting
Segmentation benefit: targeting
Target customers more effectively
Segmentation benefit: marketing mix
Segmentation benefit: marketing mix
Modify marketing mix to suit different demographics
Segmentation benefit: budgets
Segmentation benefit: budgets
Allows budgets to be created better
What market segmentation divides
What market segmentation divides
The market into subgroups
Basis for market segmentation
Basis for market segmentation
Different factors: interests, age, gender, income, location, lifestyle
What's modified for demographics
What's modified for demographics
The marketing mix
Age in market segmentation
Age in market segmentation
A factor to divide market into subgroups