ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How is a market segmented by ‘location’?
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Products can be aimed specifically at males or females or both
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People have different hobbies and interests, which can be connected to income and location.
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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
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Age groups can be split into categories e.g. 0-10, 11-16 or 18+. Or even by young and old
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Explanation:
Detailed explanation-1: -Consumer markets can be segmented using a multitude of variables from four main categories: Demographic: age, years of education, income, family size, gender, race, marital status. Geographic: Rural/urban, climate, radius, neighborhood, nearby resources and amenities.
Detailed explanation-2: -Geographic segmentation: The where Geographic segmentation is the process of grouping customers based on where they live and where they shop.
Detailed explanation-3: -Demographic. Psychographic. Geographic. Behavioral.
There is 1 question to complete.