MKT 300 Study Guide - Final Guide: Targe
Document Summary
Segmentation (also referred to as market segmentation) is the division of consumer markets into meaningful and distinct customer groups. Mass marketing is communicating a product or service message to as a broad a group of people as possible with the purpose of positively influencing sales. Segmentation base is a group of characteristics that is used to assign segment members. Demographic segmentation divides the market into groups, based on criteria such as age, gender, family size, family life cycle, income, occupation, education, religion, ethnicity, generation, nationality, and sexual orientation. Pshychographic segmentation assigns buyers into different groups, based on lifestyle, class, or personality characteristics. Values segmentation considers what customers prefer and what motivates customer response to marketing activities. Behavioral segmentation - allocates consumers into groups based on their knowledge, attitudes, uses, or responses to a product or service. Needs segmentation assigns consumers into groups, based on their current and desired level of interaction with a particular market category.
