Market Segments

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  • Created by: imy.xo
  • Created on: 11-05-15 18:10
What is market segmentation?
the classification of customers or potential customers into groups or sub-groups (market segments), each of which responds differently to different products or marketing approaches.
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What are some of the different segments?
Age, gender, income, location, culture, lifestyle
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What is mass market?
a product or service aimed at lots of people (e.g. family cars).
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What is niche market?
aimed at smaller groups of people, with products made very specialised (e.g. made to measure clothes).
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What is test market?
when a business is unsure of how a new product will sell, it will sell the product in a particular area or within a certain group of people to test whether the consumers will actually like it.
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Other cards in this set

Card 2

Front

What are some of the different segments?

Back

Age, gender, income, location, culture, lifestyle

Card 3

Front

What is mass market?

Back

Preview of the front of card 3

Card 4

Front

What is niche market?

Back

Preview of the front of card 4

Card 5

Front

What is test market?

Back

Preview of the front of card 5

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