Market Segmentation Flashcards
1
Q
What is market segmentation?
A
Market segmentation is the process of dividing an entire market up into different customer segments. Targeting or target marketing then entails deciding which potential customer segments the company will focus on. Marketing segmentation and targeting are equally important for ensuring the overall success of a company.
2
Q
Types or segments:
A
Demographic
Geographic
Psycholographic
Behavioural
3
Q
Demographic variables
A
Age, gender, education, occupation, income, social class, religion, ethnicity.
4
Q
Geographic variables
A
Region Urban Surburban Rural City size Climate Landforms
5
Q
Psycholographic variables
A
Lifestyle Personality Motives Socioeconomic group Consumer opinions interests
6
Q
Behavioural variables
A
Purchase Occassion Benefit sought Loyalty Usage rate Price sensitivity
