Market mapping

Analyzing the customer - 
when your analyzing your customer you have to think about:

• Age
• Gender
• What they are interested in.
• What prices they are willing to pay.

Ages - Children, Teenagers, middle age, oaps.

Market segments - 
You separate your customers into segments for example you could split it by 

Gender - Male or female 
Religion
race (ethnicity)

Market mapping is where you look at all the other shops or businesses like yours and see if there are any market gaps and then you can see where you business can we placed.
Here is an example of a market map -

 
Questions - 

A part of a marker that contains a group of buyers with similar characteristics is called a market...
  
select one answer 

A - Map
B - Segment
C- Gap 
D Resource 

Katie lunn is investigation setting up as a independent newsagent.She has drawn up several market maps to help her in her market research.A Market map is a visual means of showing...

Select one answer 

A - where the business is located 
B - the conclusions of a market survey
C - where a product is positioned in the market
D - Market segments