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Year 9 Business & Enterprise and Marketing - Coggle Diagram
Year 9 Business &
Enterprise and Marketing
Market Segmentation
Age
Example - 0-3 months 3-6 months
Product example - baby clothes
Gender
Geographic Location
Occupation / Job
Income
Market Research
Primary
Focus Group
Group of people try and then discuss positives and negatives of a product
Adv - Lots of opinions for a low cost
Dis Adv - Lots of conversation which may mean you miss key points
Questionnaire
Sending out a number of questions to get people opinions
Adv - Easy to fill out, cheap
Dis Adv - may not fill it out, people just tick anything
Observations
Watching a how a group of people act in a store / what they go to look at.
Adv - you get clear results as they don't know your watching
Secondary
Website
Adv - Free, and easy to access
Dis adv - Old information, everyone can access it.
buying research from a company
Dis adv - May not suit your business so it takes a long time to process
Dis adv - Expensive
Adv - quick to get
Internal Data
Competitors data
Government data
Finance
Total Costs
Total Revenue
Profit
Revenue -Total Costs
Break - even