Market Segmentation

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Give 4 reasons why the market may be segmented
To increase profit, to diversify, to target promotion and identify needs of the market
1 of 5
Define market segmentation
Splitting a market into groups with different characteristics and needs
2 of 5
Give 5 advantages of market segmentation
Increase share, decrease risk, economies of scale, less research needed, cheaper/ effective promotion
3 of 5
Give 4 disadvantages of market segmentation
Diseconomies of scale, can't spread risk if just using one segment, hard to reach the segment, may be limited information available about the segment
4 of 5
Give 7 ways the market can be segmented
Age, Gender, Class, Religion, Residence, Geography, Occupation
5 of 5

Other cards in this set

Card 2

Front

Define market segmentation

Back

Splitting a market into groups with different characteristics and needs

Card 3

Front

Give 5 advantages of market segmentation

Back

Preview of the front of card 3

Card 4

Front

Give 4 disadvantages of market segmentation

Back

Preview of the front of card 4

Card 5

Front

Give 7 ways the market can be segmented

Back

Preview of the front of card 5

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