Business - target market

• What are the different sections of markets called

  Segments
• What is each segment made up of

  Consumers that share characters needs and interests
• What is targeting

  identifying which segment of the market an enterprise wants to sell its products or service to
• What is market segmentation

  The process of breaking down a large market into much smaller groups of consumers
• What are the two reasons enterprises segement the market

  Better understand the characteristics and needs of potential customers

  to choose marketing methods that are better suited to the target market
• What does target market mean

  The segment of the market that an enterprise wants to sell its products to
• What are the four ways a market can segmentation

  Geographical

  demographic

  behavioural

  psychographic
• What does geographic segmentation mean

  were consumers live
• What does demographic segmentation mean

  Covers various characteristics of consumers such as age , gender , family size
• What does behavioural segmentation mean

  Includes consumer spending choices , how often customers buy products
• What does psychographic segmentation mean

  Includes social class , attitudes , lifestyle
• Why is it important for an enterprise to think about age

  People’s tastes , interests and needs may change at different ages
• Why is it important for business to think about gender

  Men and women have different tastes , interest and needs
• Why is important for business to think about income

  People with higher incomes may have more money to spend
• Why is important for business to think about educational level 


  People with higher of education may earn more and spend their extra income on wide range of cultural interest
• Why is important for a business to think about ethnicity , religious , and cultural beliefs

  May influence people’s choice of food , clothing and cultural preFrances
• What is psychographic traits

  consumers attitudes , lifestyle and opinions
• What are the 6 psychographic segments

  Personality

  likes and dislikes

  values

  attitudes

  interests

  lifestyle
• What is usage rate

  Measures how regularly customers buy products
• What is desired benefits

  Products have features that provide benefits to customers or meet their needs
• What is loyalty

  encourage customer to keep buying their products , enterprises may offer loyalty cards
• What is a B2B market

  An enterprise that sell its good to another enterprise
• What is a B2C market

  An enterprise sells it products and services - directly to individuals
• What are the 5 reasons people may decide to be a b2b 


  It is a ways to crate a profitable return on investment

  it is wat to increase revenue

  it is a way to reduce costs

  ways to improve efficiency and productivity

  ways to generate profits
• What are three examples of above the line promotion

  Tv , radio and press
• What are some methods of promotion 


  Sales promotion , personal selling , public relations , direct marketing , advertising
• What are some examples of below the line promotion 


  Email newsletters , press features and mail shots
• When advertising what does the message mean

  What the communication needs to say
• When advertising what does the medium mean 


  How to get the message across to current and potential customers
• With advertising what are some f the key things the message may include

  Low price , good quality , healthy , useful
• What is the third reasons for advertisment 


  To remind people to do something
• What is moving image 


  Tv , cinema
• What is print 


  Newspapers , magazines
• What are the benefits of print

  Likely to be seen my large numbers of people either in a specific location or over a wide area
• What is ambient

  Public places like a bus stop
• What is the benefit of ambient 


  Outdoor advertising aims to catch the attention of passers by
• What is digital 


  websites , social media
• What is the benefit of digital 


  Enables large and small businesses to connect with large numbers of people instantly all over the world
• what is audio 


  Local and national radio
• What is the benefit of audio 


  Allows businesses to speak directly to their target market