List and Describe Three Ways in Which Consumer Markets (B2C)

question 92

Essay

List and describe three ways in which consumer markets (B2C) might be segmented. Provide an example for each.

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Definitions:

Market-Product Grid

A tool for analyzing market segments by mapping out their size and growth potential against specific products and services.

Marketing Research

The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

Strategic Intelligence

Information gathered and analyzed regarding the longer-term strategies of competitors or market trends, to support high-level decision-making.

Data Mining

The process of analyzing large datasets to discover patterns, trends, and insights that can inform decision-making and strategic planning.