Market Segmentation
What Market Segmentation means in Business GCSE, as defined for AQA, OCR, Pearson Edexcel.
Definitions of Market Segmentation
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Reference: Pearson Edexcel
Dividing a broad target market into smaller, more defined groups of consumers who share similar characteristics, needs, or interests.
Identifying a target market by dividing the whole market using criteria such as age, income, location, lifestyle or usage rate.
Dividing a market into groups, such as by age, so that a business can target customers whose needs differ.
Dividing a broad target market into smaller groups of consumers with similar needs, characteristics, or behaviours.
Dividing a broad target market into smaller, distinct groups of consumers with common needs or characteristics.
The process of dividing a target market into smaller groups of consumers with shared characteristics or needs.
Topics that use Market Segmentation
- Influences on business (AQA GCSE)
- Segmentation (AQA GCSE)
- The elements of the marketing mix: price, product, promotion and place (4Ps) (AQA GCSE)
- Market segmentation (OCR GCSE)
- Marketing (OCR GCSE)
- Market segmentation (Pearson Edexcel GCSE)
Related terms
- Extension Strategy
- Price skimming
- Batch Production
- Demographic Segmentation
- Just-in-Time (JIT)
- Marketing mix
- Marketing mix decisions
- Psychographic Segmentation
Using Market Segmentation in the exam
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