Market Segmentation Flashcards
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Flashcards on Market Segmentation
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5 Terms
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Market Segmentation
Identifying sub-groups of a whole market.
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Market Segment
An identifiable subgroup of a whole market in which consumers have similar characteristics or preferences.
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Market Segmentation - Ways to Segment
Age, Socio-economic Grouping, Location, Gender, Income, Lifestyle, By Use of Product.
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Market Segmentation - Benefits to Business
More cost-effective marketing, identification of market gaps, and increased sales opportunities.
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Factors Firms Consider Before Segmentation
Size and sales potential of each segment, cost of entering each segment, company image and brand image.
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Flashcards (84)