| How could customers vary? List 4 | Requirements
Money they are able to pay and willing to pay
Quantity and Quality of foods they require
Time and location they want to purchase the goods |
| What are the 6 segments of the market | Age
Gender
Occupation
Lifestyle
Income
Geographic |
| 2 Benefits of marker segmentation | - Detailed knowledge of potential customers allow you to fit you product to their wants and needs, giving your product a better chance of succeeding
- You can target your advertising and promotion |
| What’s primary research? What are the methods of it? | First hand research conducted by the business itself such as:
-Observations
-Survey/Questionnaire
-Focus Group
-Consumer Trials |
| What’s secondary research? What are the methods of it? | Research that has already been conducted and can be found easily, such as:
-Internal Data
-Books and Magazines
-Competitor’s Data
-Government Statistics and Other Research Material |
| Advantage and Disadvantage of Primary Research | Sometimes expensive and time consuming. However the business can get results that are specific to what they need to know. |
| Advantage and Disadvantage of Secondary Research | Cheaper and takes less time. However the data that exists was not produced exactly to the business’s research objectives. |
| What does customer feedback do? | Helps make improvements to the business
Gives the business more chance of making sales
Gives customers a voice |
| 6 ways customers can give feedback | Telephone survey
Online survey
Comment cards
In store verbal comments to staff
Leave reviews on a website
Social Media |
