MARKET SEGMENTATION Market Segmentation Producing goods and services

MARKET SEGMENTATION Market Segmentation Producing goods and services customers want Target the Market WHY? GCSE Business Studies Use of advertising specific to customers By not making goods which consumers do not need or want Meeting the needs of people more efficiently and effectively Avoids waste By not marketing to the wrong people

HOW? Market Segmentation GCSE Business Studies ETHNIC, SOCIOGEOGRAPHIC CULTURAL, GENDER INCOME AGE ECONOMIC AREA RELIGIOUS (Click here)

YOUNG ADULTS CHILDREN SUGGEST A PRODUCT EACH SEGMENT MIGHT NEED OR WANT Market Segmentation GCSE Business Studies AGE MIDDLE AGE OLDER

YOUNG ADULTS CHILDREN WHERE MIGHT YOU FIND PRODUCTS FOR EACH SEGMENT MARKETED OR ADVERTISED? Market Segmentation GCSE Business Studies AGE MIDDLE AGE OLDER

MALE SUGGEST A PRODUCT EACH SEGMENT MIGHT NEED OR WANT Market Segmentation GCSE Business Studies GENDER FEMALE

MALE WHERE MIGHT YOU FIND PRODUCTS FOR EACH SEGMENT MARKETED OR ADVERTISED? Market Segmentation GCSE Business Studies GENDER FEMALE

INCOME SUGGEST A PRODUCT EACH SEGMENT MIGHT NEED OR WANT Market Segmentation GCSE Business Studies HIGH MIDDLE LOW

INCOME Market Segmentation GCSE Business Studies HIGH MIDDLE WHERE MIGHT YOU FIND PRODUCTS FOR EACH SEGMENT MARKETED OR ADVERTISED? LOW

GEOGRAPHIC AREA Suggest ways in which people in different parts of the UK might demand different products: Wales Market Segmentation GCSE Business Studies Ireland Scotland North of England South of England

HIGH CHILDREN YOUNG ADULTS MIDDLE GENDER INCOM E Market Segmentation GCSE Business Studies AGE MIDDLE AGE LOW OLDER GEOGRAPHIC AREA Show HOW ? ETHNIC, CULTURAL, RELIGIOUS SOCIOECONOMIC BASED ON INCOME + JOBS DONE

What type of goods might be demanded by the groups shown? SOCIOECONOMIC Skilled Worker e. g. Market Segmentation GCSE Business Studies Professional Worker BASED ON INCOME + JOBS DONE e. g. Middle Manager e. g. Lower Middle e. g. Unskilled Worker e. g. Poorest e. g.