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Market Segmentation

Market segmentation involves dividing a market into sections with similar characteristics or behaviors, such as demographics, income levels, geographic location, lifestyle groups, social class, and personality traits. This approach helps tailor products and marketing strategies to meet the unique needs and preferences of various consumer segments. By understanding factors like age, gender, income, life cycles, holidays, and usage rates, businesses can effectively target different customer groups to drive sales and growth.

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Market Segmentation

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  1. Market Segmentation dividing a particular market into sections, which display similar characteristics or behaviour

  2. Demographics

  3. Demographic Segmentation

  4. Age – different needs (kids, old people) • Gender – cosmetics, clothing, • All Bar one (London) –encourage women’s social drinking • Unisex products (works on the similarity between the 2 genders)

  5. Income income

  6. Life cycles • Holidays: families, 18-30s singles, those in their 50s.

  7. Geographic

  8. Lifestyle groups

  9. Social class Divides society into  6 distinct groups based solely on occupation. • A    Professional staff • B    Middle management • C1   Junior management • C2   Skilled manual • D     Semi-skilled and unskilled workers. • E     Those dependent on the state.

  10. Personality • 18-25, outgoing, independent – what products?

  11. occasion • Products bought at Christmas, Easter, Mother’s day

  12. Usage rate targeted

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