Market segments

Market segments

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overview

A market segment is an identifiable group with simalar needs and wants within a market

-firms adjust their markets accordingly to needs of consumer

- it is a way to divide the market

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examples

  • age (product aims what age)
  • gender
  • income
  • socio-economic groupings (income and job)
  • usage rate (how much will use product)
  • purchase occasion
  • demographic (consumers put in cateogories *specific group)
  • pschyographic (behaviour)
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