1.1.3 Market Mapping

Name why businesses should segment a market

Better matching of customer needs; Better opportunities for growth; More effective promotion; Gain a higher share of the market

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Which 4 factors fall under Demographic Segmantation?

Age, Gender, Income, Social Class

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Which 4 factors fall under Geographic Segmentation?

Regions, Countries, City/Town Size, Population Density

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Name a key limitation with market segmentation

Lack of info & data; Difficulty in measuring & predicting consumer behaviour; Hard to reach customer segments once identified

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Name a pair of dimensions used in a Market Map

High/Low Price; Basic/High Quality; Low/High Volume; Necessity/Luxury; Light/Heavy; Simple/Complex; Low/High Tech; Young/Old

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Other cards in this set

Which 4 factors fall under Demographic Segmantation?

Age, Gender, Income, Social Class

Which 4 factors fall under Geographic Segmentation?

Name a key limitation with market segmentation

Name a pair of dimensions used in a Market Map

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