Market segmentation (OCR GCSE Business): Revision Notes
📚 Revision Notes
2.3 Market segmentation
Market segmentation is where a business divides the market into subgroups based on different interests, age groups and other factors.
● Age ● Gender ● Income ● Location ● Lifestyle
Benefits of market segmentation
● Target customers more effectively
● Modify the marketing mix to suit different demographics
● Allows budgets to be created better