nqbm marketingJW & EC Jan Market segmentation is the identification of groups with relatively similar needs and wants within a market Learn this definition!

nqbm marketingJW & EC Jan 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

nqbm marketingJW & EC Jan 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

nqbm marketingJW & EC Jan QUESTIONS 1.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. FOR YOUR JOTTER