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Market Segmentation

Market Segmentation. Market segmentation is the identification of groups with relatively similar needs and wants within a market. Learn this definition!. THE CONSUMER. A consumer is a person who will buy or use a product or service

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Market Segmentation

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  1. Market Segmentation Market segmentation is the identification of groups with relatively similar needs andwants within a market Learn this definition! JW & EC Jan 2009

  2. THE CONSUMER • A consumer is a person who will buy or use a product or service • Sometimes the buyer and the consumer are 2 different people, eg a child may be the consumer of a toy, but a parent may be the buyer • A business needs to find out as much as possible about its target market in order to produce products and services which satisfy their needs JW & EC Jan 2009

  3. MARKET SEGMENTATION • A market can be divided into different categories • Age • Gender • Income • Taste • Social class (see notes page 48-49) • Geographical location • Occupation • Family lifestyle JW & EC Jan 2009

  4. FOR YOUR JOTTER QUESTIONS • Distinguish between a buyer and a consumer of a product. Give an example to illustrate your answer (not one already used). 2. Walls ice cream is a recognisable brand name. They have many different types of ice cream aimed at particular market segments. For each of the following products, identify the target segment and justify your answer • Magnum • Calippo • Carte d’or • Mini Milks 3. Thompson Holidays have different brochures for different types of holidays. Choose 4 of the brochures and suggest the market segment the brochure is aimed at. JW & EC Jan 2009

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