Enterprise And Marketing Exam Questions And
Complete Answers
customers vary because of the..... - answer benefits they require
amount of money willing to pay/able
quantity of goods they require
quality of goods they require
time and location they wish to purchase the goods
Types of Market Segmentation - answer age
gender
occupation
income
geographic location
lifestyle
Benefits of market segmentation - answer Ensures customers needs are matched
Potential for increased profits
Increased customer retention - help companies retain as many customers as possible
Allows for targeted marketing
Potential for an increase in market share
The purpose of market research - answer To reduce risk
To understand the market
To promote the organisation
To aid decision making
To gain customers' views and understand their needs
To inform product development
dentition of "segmentation" - answer dividing markets into meaningful, similar, and
identifiable segments in order to uncover opportunities
Complete Answers
customers vary because of the..... - answer benefits they require
amount of money willing to pay/able
quantity of goods they require
quality of goods they require
time and location they wish to purchase the goods
Types of Market Segmentation - answer age
gender
occupation
income
geographic location
lifestyle
Benefits of market segmentation - answer Ensures customers needs are matched
Potential for increased profits
Increased customer retention - help companies retain as many customers as possible
Allows for targeted marketing
Potential for an increase in market share
The purpose of market research - answer To reduce risk
To understand the market
To promote the organisation
To aid decision making
To gain customers' views and understand their needs
To inform product development
dentition of "segmentation" - answer dividing markets into meaningful, similar, and
identifiable segments in order to uncover opportunities
