Market Segmentation

• What is market segmentation?

  Dividing customers into different groups
• Why do businesses use market segmentation?

  To understand customers' needs and wants
• How can geographical segmentation help a business?

  By understanding customers' location-based needs
• What type of clothing does Next provide for infants and toddlers?

  Next kids range
• Why might advertising in a newspaper not target teenage girls effectively?

  Teenage girls prefer magazines like Bliss
• How does segmenting a market benefit businesses in product presentation?

  It provides ideas for effective product presentation
• What is market mapping?

  A process to identify market gaps
• What is the purpose of identifying a gap in the market?

  To find opportunities for new products
• What are some variables for market segmentation?

  Gender, income, age, location
• How does gender affect product targeting?

  Some products are aimed at males or females
• Why are luxury products aimed at certain income levels?

  They require a higher spending capability
• How can age influence product targeting?

  Products can be aimed at specific age ranges
• How does location affect customers' wants and needs?

  They change based on where customers live
• Why do some supermarkets focus on Polish food in the UK?

  To cater to local Polish communities
• What is the benefit of locating supermarkets near Polish societies?

  It aligns with the needs of local customers