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GCSE Business · key term
A diagram that positions products or businesses against two characteristics so that their market positions can be compared.
Used by Edexcel
Specification 1.2.3 · Paper 1
Revise: Market SegmentationA market map compares two characteristics, such as price and quality. One is shown on the horizontal axis and the other on the vertical axis. Businesses are placed according to their position on both characteristics.
Read both axes of a market map before describing a business or a gap. State the combination, such as low price and fashion-focused.
An empty area on a market map is a potential opportunity, not proof of demand or guaranteed profit.
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