A market segment is an identifiable group with simular needs and wants within a market. Examples of how to define a segment:
age- products aimed at certain age groups
Gender- Differ for different genders
Income- produce goods for different levels of income eg pricing
Socio Economic groupings- segmenting people on income
Usage rate- Firms distinguish between heavy users nd not eg. smoking
Ourchse occasions- Producers have tried to increase the numberof purchase occasions to buy cards etc.
These impact business as it helps disiguish and identify the target audience and match to the demands needs and wants of the consumer
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