Market Segmentation

Which market segment would this product appeal to?

• High income, males, 18+, who enjoy fast cars
• Low income, young, females, who enjoy fast cars

How is a market segmented by 'income'?

• People have different hobbies and interests, which can be connected to income and location.
• Consumers live in different parts of the country and will have different tastes and needs.  Those living in the city might want a smaller car
• The population can also be divided into; low income, middle income and high income. 
• Age groups can be split into categories e.g. 0-10, 11-16 or 18+.  Or even by young and old

How would you change this product so that it appealed to young males?

• Leave the colour as boys like this colour anyway
• Change the colour to blue and use different pictures to fairies, by using superheroes. 

How is a market segmented by 'gender'?

• Products can be aimed specifically at males or females or both
• People have different hobbies and interests, which can be connected to income and location.
• Consumers live in different parts of the country and will have different tastes and needs.  Those living in the city might want a smaller car
• Age groups can be split into categories e.g. 0-10, 11-16 or 18+.  Or even by young and old

Which of the following are methods used to segment a market?

• Age, religion, school you go to, eating habits and views on education

• Age, gender, income, location and lifestyle.

• age, socio-economic group, location, gender, income, family characteristics, education, occupation

• age, socio-economic group, school you go to, location, gender, income, family characteristics, education, occupation, views on education

How is a market segmented by 'age'?

• Products can be aimed specifically at males or females or both
• People have different hobbies and interests, which can be connected to income and location.
• Consumers live in different parts of the country and will have different tastes and needs.  Those living in the city might want a smaller car
• Age groups can be split into categories e.g. 0-10, 11-16 or 18+.  Or even by young and old

Which market segment would this product appeal to?

• Females, 60+, sporty, living in England, low income
• Males, any age, living in Scotland, any income

Which market segments would this product appeal to?

• Young, females, any income, any location
• Any age group, females, high income, living in Scotland, sporty

Define what is meant by 'target market'

• Group of customers at which a product or service is aimed, or targeted.
• Splitting the market for a product into different parts, or segments.

Segmentation of a market is done to help with?

• Targeting advertising more accurately
• Increase the amount of products being made
• Improving the quality of goods being sold
• Making sure that workers are happy at work