A free study guide that clearly explains consumer segmentation bases, designed for university-level marketing students. The segmentation of consumer markets requires the creation of sub-groups from a larger population to more specifically target them there are virtually dozens of ways that a market might be.
By using any of these segmentation bases, either individually or in combination, an organization can construct market segments for evaluation to help them select appropriate target markets note: this topic discusses segmentation bases for consumer markets, there is a separate topic area relating to business market segmentation bases/variables.
Bases of market segmentation segmenting is dividing a group into subgroups according to some set ‘basis’ these bases range from age, gender, etc to psychographic factors like attitude, interest, values, etc. There are quite a number of potential market segmentation bases (also referred to as segmentation variables), which an organization could effectively utilize to construct market segments as a simple guide, segmentation bases can be classified into five major categories: geographic, demographic, psychographic, behavioral, and benefits sought.
A demographic segmentation: demographic segmentation divides the markets into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality demographic factors are the most popular bases for segmenting the consumer group. Customer segmentation is imperative when trying to send messages to a target market segmenting consumers enables marketing teams to stretch budgets and make the most of marketing dollars by reaching the most ideal visitors who are likely to become leads, without wasting money on impressions that will never turn into conversions. The consumer market segmentation is not confined to a single method the market structure is best viewed by the marketer by applying different segmentation variables both in the alone form as well as in the combined form.
Advertisements: some of the major bases for market segmentation are as follows: 1 geographic segmentation 2 demographic segmentation 3 psychographic segmentation 4 behavioristic segmentation 5 volume segmentation 6 product-space segmentation 7 benefit segmentation a large number of variables are used to segment a consumer market.
A market segmentation base is simply the factor that is used to define the overall market up into its individual market segments these factors usually include some sort of description of the consumers, usually relating to their lifestyle, purchasing behavior, goals, or life-stage attributes. Demographic segmentation divides the market on the basis of demographic variables like age, gender, marital status, family size, income, religion, race, occupation, nationality, etc this is one of the most common segmentation practice among the marketers.
Bases of market segmentation definition: the market segmentation means dividing the entire consumer market into the subgroups, such that the customers in each group share the common set of needs and wants and have more or less similar or related characteristics.