market segmentation
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4 Terms
how do businesses use market segmentation to target customers
to identify market segments.
define market segmentation
process of dividing into a market into groups based on their characteristics.
what ways can the market be segmented
location
where the people live
demographically
characteristics of people such as age, gender etc.
age
not all products are used by all ages of people
income
higher income = higher spending for products
what is market mapping
a graph that shows how the market position the brands, the axes will be for example low to high quality and the other axe will be low to high price.
This shows gaps in the market, however spotting a gap doesnt always mean there is going to be success if a business fills the gap in.
Note 
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