wk6 - marketing

Market Segment

consists of a group of customers who share a similar set of needs and wants

segments of consumer markets

• Geographic • Demographic • Psychographic • Behavioural

geographic segmentation

divides the market into geographical units such as nations, states, regions, counties, cities or neighbourhoods

Examples

• Education and affluence

• Family life cycle

• Urbanisation

• Race and ethnicity

Demographic Segmentation

• Age and Life-cycle Stage

• Life Stage

• Gender

• Income

• Generation

• Race and Culture

Psychographic Segmentation

• science of using psychology and demographics to better understand consumers. In psychographic segmentation, buyers are divided into different groups on the basis of psychological/personality traits, lifestyle, or values.

• People within the same demographic group can exhibit very different psychographic profiles – Personality traits – Lifestyle – Values

Behavioural Segmentation

• Separate consumers based on knowledge, attitudes to a product, use of a product and response to a product

behavioural segmentation - User and Usage: Loyalty Status and Attitudes

• Hard-core

• Split loyal

• Shifting loyal • Switchers

attitudes - enthusiastic, positive, indifferent, negative, hostile

Behavioural Segmentation - decision roles

initiator, influencer, decider, buyer, user