Segmentation Flashcards
1
Q
Demographic segmentation
A
Age
Gender
Race
Ethnicity
Religion
Marital status
Education
Socio-economic class
2
Q
Geographical segmentation
A
Local tastes
Local culture
Climate
Urban/rural
Population density
3
Q
Psychographic segmentation
A
Lifestyle
Hobbies and interests
Values
Status
Motivations and priorities
4
Q
Market segmentation
A
Breaking a market into different parts (“segments”), where consumers in each segment have similar characteristics
5
Q
Target Market (targeting)
A
Which market segment(s) to aim for
- Aim for one only
- Aim for multiple
Conduct market research to find the segment’s consumer needs
6
Q
Mass marketing
A
Selling a product to the whole market
7
Q
Niche Marketing
A
Targets a specific and well-defined segment of the market
E.g. luxury, extreme sports, Poundland
