Businesses united 3 revision

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Market segmentation helps businesses:
-carry out market research-tailor products to customer needs-target promotions at specifics groups
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what is market segmentation?
a market segment is a group of customers in a market that have similar characteristics and needs.
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explain one way in which effective marketing can help improve the products of a business.
If a business understand their customers needs their products and services can be developed to meet these needs.This means that the products will be more attractive and desirable, leading to a greater number of sales.
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methods for product trial?
low trial prices/ Advertising/public relations/free samples/viral marketing e.g facebook
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What does product trial mean?
when consumers buy a product for the first time to asses whether or not they want to buy it again
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repeat purchase and customer loyalty
special promotions/reminder adverts/product innovations/customer loyalty schemes
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identify two different methods of product trial
advertising /publicity/special offers/press release/ free samples
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Other cards in this set

Card 2

Front

what is market segmentation?

Back

a market segment is a group of customers in a market that have similar characteristics and needs.

Card 3

Front

explain one way in which effective marketing can help improve the products of a business.

Back

Preview of the front of card 3

Card 4

Front

methods for product trial?

Back

Preview of the front of card 4

Card 5

Front

What does product trial mean?

Back

Preview of the front of card 5
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