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Buss1 Market

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jeffjordan97's version from 2015-05-09 10:06

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Question Answer
What is market segmentation?The process of dividing up the market into sub-groups with similar needs/characteristics.
Give 2 advantages of MSegmentationCan adjust the product to suit different target markets. Business can target marketing effort making more efficient use of resources.
What is Demand?The amount a customer is willing to pay at a certain time.
Give 5 Factors that influence demandprice (value customers give), Income (economy struggling), Competitor actions, Marketing objectives, Seasonal factors.
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