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Segmentation
Dividing or segmenting people and organizations into different groups of potential buyers with similar characteristics.
Targeting Segments
Selecting market segments to pursue with marketing plans.
Positioning
Creating a preferred position of the company’s products in the minds of consumers.
Segmentation Bases
Criteria used to classify and divide buyers into different market segments.
Behavioral Segmentation
Dividing customers based on benefits sought, usage frequency, and product application.
Demographic Segmentation
Dividing markets based on personal characteristics like age, gender, income, and ethnicity.
Geographic Segmentation
Segmenting buyers by their location such as region, city size, and climate.
Psychographic Segmentation
Dividing markets based on customers’ values, lifestyles, activities, interests, and opinions.
VALS Types
A framework categorizing consumers into groups based on their values attitudes and lifestyles.
Innovators (VALS)
Successful, sophisticated individuals who are take-charge people.
Achievers (VALS)
Goal-oriented individuals, stable and conservative in their choices.
Strivers (VALS)
Trendy and fun-loving individuals who seek approval from others.
Survivors (VALS)
Individuals with few resources who are primarily concerned with safety and basic needs.
Geocoding
The process of plotting geographic marketing information on a map.
Proximity Marketing
Segmentation technique that targets buyers geographically within close range using wireless technology.
B2B Segmentation
Segmentation in business-to-business markets, where there are fewer segments compared to B2C markets.
Service-focused Segment (B2B)
A segment that demands high-quality products and top-notch delivery and service requirements.
Quality and Brand-focused Segment (B2B)
A segment consisting of firms that want the best possible products and are willing to pay for them.
Partnership-focused Segment (B2B)
A segment that seeks trust and reliability from their suppliers.
Consumer Insight
Developed understanding of customer needs through quantitative and qualitative information.
