However, the most common bases for segmenting consumer markets include: geographics, demographics, psychographics, and behaviour.
Marketers normally select a single base for the segmentation analysis, although, some bases can be combined into a single segmentation with care.
What is the market segmentation
Market segmentation is a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests.
What factors are used to identify consumer market segments?
- Nature of demand
- Durability
- Banking and Financial System
- Portability
- Piece of and Security of Life and Property
- Cognizability
- Sampling and Grading of Goods
- Adequate Supply
What is an example of psychographic segmentation
Examples: Psychographic segmentation examples include luxury items and articles that appeal to a particular lifestyle such as vegetarians and pescatarians.
Examples of behavioral segmentation include choosing one product over another due to variation or functionality.
What brands use market segmentation?
- Volkswagen
- Coca-Cola
- Kellogg’s
What is geographic segmentation example
Geographic Segmentation Examples An example of geographic segmentation is an ice cream company segmenting a country by how hot different regions are and targeting those specific areas that are hottest and therefore more likely to buy ice cream.
What is market segmentation and examples
Common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral.
What are the 5 market segments
There are many ways to segment markets to find the right target audience. Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.
What is demographic segmentation example
The five main demographic segments are age, gender, occupation, cultural background, and family status.
What is a demographic segmentation example? An example of segmenting by age would be Saga Holidays.
They sell travel packages exclusively to those over 50, and their marketing reflects this.
What are the 6 types of market segmentation
This is everything you need to know about the 6 types of market segmentation: demographic, geographic, psychographic, behavioural, needs-based and transactional.
Why are demographic characteristics used to Analyse a target market
Demographic segmentation allows you to get more specific with your marketing strategies. It helps clarify your vision, have more direction with future advertising plans, and optimize your resources, time, and budget.
If 85% of your clients range from 20-35 years old, this is the segment you’re going to target.
How are market demographics segmented?
- Age
- Gender
- Ethnicity
- Income
- Level of education
- Religion
- Occupation
- Family structure
What is a customer demographic
Customer demographics are categories of consumer populations that are useful to a business for purposes, such as marketing and product design.
The term also refers to the study of such categories in a business context.
An endless number of variables can be used to categorize customers and potential customers.
What is STP in marketing with example
STP marketing (Segmentation Targeting, and Positioning) is a three-step marketing framework. With the STP process, you segment your market, target your customers, and position your offering to each segment.
What is an example of STP? The most classic example of STP marketing is the Cola Wars of the 1980s.
What are the 4 types of marketing
The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix.
These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other.
What are 4 examples of demographics
Demographic information examples include: age, race, ethnicity, gender, marital status, income, education, and employment.
You can easily and effectively collect these types of information with survey questions.
Citations
https://www.legowear.com/about-lego-wear/the-lego-brand
https://sixads.net/blog/market-segmentation-examples/
https://www.gobankingrates.com/investing/stocks/lego-stock/
https://skimgroup.com/methodologies/segmentation-analysis/
