Market sampling and segmentation

What is a sample?

Tick TWO!

• Part of primary and secondary research

• Part of the marketing mix

• When you ask opinions from a large number of people

• A method which questions only a selection of people

Random sampling is:

• When a selection of people are selected with no distinct grouping and asked about their opinions

• When a set number of people who fall into a predetermined category are asked questions about a product or service.

__________are used to identify customers with similar wants and needs.

• Geographic Data
• Customer Survey
• Behavioral Research
• Market Segmentations Methods

Money left over after paying your bills and basic living necessities is called.

• Disposable Income
• Census
• Discretionary Income
• Savings account

Define what is meant by 'target market'

• Group of customers at which a product or service is aimed, or targeted.
• Splitting the market for a product into different parts, or segments.

Define what is meant by the term 'market segmentation'

• The action or activity of gathering information about consumers' needs and preferences.
• The splitting of the market for product or service into different parts, or segments.

Which of the following are methods used to segment a market?

• Age, religion, school you go to, eating habits and views on education

• Age, gender, income, location and lifestyle.

Quota sampling..

Pick TWO!

• results are more accurate than random sampling?

• everyone has an equal chance of being chose?

• this method is unsuitable for some products

• these are easily organised and cheap