How businesses use market segmentation to target customers:
● identifying market segments: location, demographics, lifestyle, income, age
Discover
Delve
Answer the below questions
Demonstrate Question
This question is an explain question. You MUST use the BLT format. An example is below for a different explain question. The structure of your answer should match the example.
Explain an advantage of having limited liability. (3 marks).
One advantage is that you only risk losing the money you invest in the business.
This is because you and your business have separate legal identities
This leads to being more likely to take calculated risks with the business
Therefore having greater returns when those risks are successful
Have a go at your own
Explain one way a small business could use market segmentation to target customers.
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Mark Scheme
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