<p>Market Segmentation involves dividing up the market into different catergories based on different needs and producing different goods to satisfy the different consumer needs.</p><p>Markets may be segmented based on: Age (Chocolate Co’s)/ Gender (Clothes/Fragrances) Geographic Area (O’Neills sports Jersey’s) Hobby & Interests (Magazine Co/Sports Clothes) Income Levels (Car manufacturer)</p><p>Marketing Mix This involves getting the Right Product into the Right Place at the Right Price and having it Promoted correctly.</p><p>To be successful a business must have the RIGHT Product  something their target market want and need  It needs to have a good brand name so customers will know it and maybe become loyal to it  It has to be different from the competitors products  It should have its own Unique Selling Point (USP)</p><p>Place  It must be sold in the correct place so the target market can get it easily  This might involve selling in through the wholesaler to the retailer  It might involve selling in lots of different types of retail outlets like hotels, vending machines, pubs, restaurants, shops etc  We have to consider how to deliver our G/S to these places maybe we will have to use road, rail, air or sea forms of transport Price  It must have a price that is suitable for our target market  The selling price has to take into account the cost of producing the product and the profit needed for the business to survive  When deciding the price the business also needs to take into account what other similar products by the competition are selling for  Price always affects the image of the product Promotion  This looks at ways of getting the product well-known to the target market  It will include having attractive, eye catchy suitable packaging  It will include advertising the product (eg: on TV/Radio/Cinema/Papers/ at events etc) where the target market will see it  It will include Sales promotion techniques (activities other than advertising used to promote G/S like 50% off special offer)  It will include Merchandising – providing suitable equipment/display stands so that the good becomes well known and encourages people to purchase it  It will include Sponsorship of events to get the product well known</p>