Summary GCSE business studies coursework on market segmentation (not finished) GRADE A
41 views 1 purchase
Course
Business Studies
Institution
GCSE
Book
REVISE Edexcel GCSE Business Revision Guide
This is only the coursework. The appendix is also listed on my page ready to buy. Both are not fully finished but are about 3/4 done. It contains market segmentation. The types of segmentation and analysis of them relating to a business. Coursework requirements meant that a small business must be c...
To what extent does the business you have chosen target different segments of the
market?
Introduction:
Status Fisheries is a Takeaway in Bradford which serves mainly fish & chips food. The take-
away sells a range of food fast food, seafood, British food. They offer food in-store and
online. They are based on Lindley Road, Bradford, West Yorkshire, BD5 7PD.
This report is about how a business segments their market. I will be finding out what
segment this business targets by using research that I have collected myself.
Figure 1: Image of Status Fisheries
What is market segmentation?
A market segment is a group of customers in a market that have similar characteristics and
needs. Source: Revise EDEXCEL GCSE Business Revision Guide
Why would a business use segmentation?
Market segmentation allows a business to:
-meet specific customer needs
-differentiate their products
-focus on a specific group of customers
-target marketing activity
-develop a unique brand image
-build close customer relationships. Source: Revise EDEXCEL GCSE Business Revision Guide
What is a benefit of market segmentation?
1|Page
, Market segmentations helps businesses:
Target promotions at specific groups. Source: Revise EDEXCEL GCSE Business Revision
Guide
How can a business segment their market?
A business can segment their market using the following segment:
- Age
- Gender
- Income (socio-economic group)
- Area
- Ethnicity
- Religious groups
Source: Edexcel GCSE Business: Introduction to small business
In addition to this, the revision guide states that income and socio-economic groups are
classed into the same group. Source: Edexcel GCSE Business: Introduction to small business
Analysis:
Gender:
I carried out an observation of the business (see appendix 4) to see if Status Fisheries target
gender as their chosen target market. ‘I observed this business on 16/05/17. Status Fisheries
have more male customers than female. Approximately 80% of customers that I observed
on that day were male and 20% are female. When I observed only 2 women came and 8
men’. From this, it tells us that the business could target gender and from gender they could
target more male customers than female customers.
I carried out some primary research on customers that go to the business. I gave the
customers a questionnaire (see figure 2) and asked them to fill it in. From the results I found
out that most people the come are men and this was found from my questionnaire (see
appendix 2). From the results I can see that there are 14 men and 6 women, this is shown in
the graph below. This shows that the business has more male customers than female
customers and this could possibly mean that the business does use gender to group their
target market.
Figure 2: Results from the questionnaire on gender
2|Page
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller DistinctionKing21. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.33. You're not tied to anything after your purchase.
