MGMA01H3 Chapter : Marketing - Segmentation
Document Summary
Introduction y developing marketing plan is one step of the strategic marketing planning process: involves two factors: customer needs and environmental analysis. Segmenting consumer markets y characteristics that are used to determine market segments: age, gender, geographic location, income and expenditure patterns, population size, mobility y five commonly used bases for segmenting consumer markets, demographic segmentation. dividing an overall market on the basis of characteristics such as age, gender, income level. easiest way of dividing markets: geographic segmentation. dividing an overall market into homogeneous groups based on population location: psychographic segmentation. uses behavioural profiles developed from analyses of the activities, opinions, interests, and lifestyles of consumers: benefit segmentation. depends on a product: usage rate. divides the market by the amount of product consumed, and/or degree of brand loyalty. Geographic segmentation y find out where the buyers are y country and regional variations in consumer tastes often exist.
