2.3 Market Segmentation

Front

Define what is meant by the term 'market segmentation'

Back

The splitting of the market for product or service into different parts, or segments.

Front

Define what is meant by 'target market'

Back

Group of customers at which a product or service is aimed, or targeted.

Front

How is a market segmented by 'age'?

Back

Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old.

Front

How is a market segmented by 'gender'?

Back

Products can be aimed specifically at males or females or both.

Front

How is a market segmented by 'location'?

Back

Consumers live in different parts of the country and will have different tastes and needs. Those living in the city might want a smaller car.

Front

How is a market segmented by 'lifestyle'?

Back

People have different hobbies and interests, which can be connected to income and location.

Front

How is a market segmented by 'income'?

Back

The population can also be divided into; low income, middle income and high income.

Front

Segmentation of a market is done to help with?

Back

Targeting advertising more accurately

Front

Which market segments would this product appeal to? Young, females, any income, any location, Any age group, females, high income, living in Scotland, sporty

Back

Young, females, any income, any location

Front

Which market segments would this service appeal to? Male and females with children, over 18, any income, who enjoy holidays as a lifetsyle choice, Males and females, 60+, without children, who are sporty and have high incomes

Back

Male and females with children, over 18, any income, who enjoy holidays as a lifetsyle choice