2.3 Study the information provided and then answer the…
2.3 Study the information provided and then answer the questions that follow: Right click on the button below to open the information in a new tab: 2.3.1 Explain to Gerome what psychographic segmentation is. (1) 2.3.2 Discuss the different ways market research can be conducted and then advise Gerome on the method you think would be best suited to gather the information he needs to better understand his market. (5) 2.3.3 Market research was completed. Analyse the findings and then provide Gerome with advice on what he needs to do so as to improve his business situation. (2) 2.3.4 Milky Lane opens up nearby Gerome’s new spot for his cart. They are offering massive opening specials and discounts. How could this impact Gerome’s business? (1) 2.3.5 What can Gerome do to improve his business offering so as to better compete with his competitors? (1)