F&G is a leading fashion retailer. It has 20 shops in country C. The business uses market segmentation. Its target market is men aged between 25 and 40 years old. The Marketing Director has been looking at the marketing data shown in the Table. She is worried that the amount the business spends on marketing is not cost effective. She would like to close down all F&G shops and just use e-commerce.
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02:Identify and explain two benefits of market segmentation to F&G[4]
Possible KN Points:
>Able to tailor goods to specific needs of segment/know what to produce.
>Identify gaps in the market.
>To help decide best place to sell.
>Research is simpler/help identify customer needs.
>Help target promotion/advertising.
>Help set prices.