A small portion of the market or niche of market that is divided according to demographic characteristics like age sex or gender, education ,social class, lifestyle among others
Examples of demographic segmentation include age, gender, income level, occupation, and marital status. Variations of these represent the ideal target market.
Demographic - Confirmed
segmentation is a creative prcess. marketers normally segment markets by combining several segmentation variables rather than relaying on a single segmentation base. THERE ARE 4 METHODS OF HYBRID SEGMENTATION * Value and Life Style (VALS) * psychographic-demographic segmentation * geo-demographic segmentation * yankelovich's mind base segmentation
Geographic Demographic Psychographic Product Usage Benefits Derived
When you decide on which criteria to segment the market i.e. demographic,physographic,geographic etc ,segmentation phase is over. On analyzing the segmented market, when you decide which segment to actually offer you product/service ,you have finished targeting. manishmakhija69@gmail.com for comments
The types of maket segmentation are, demographic, geographic, psychographic, and behavioral.
Demographic - Confirmed
Examples of demographic segmentation include age, gender, income level, occupation, and marital status. Variations of these represent the ideal target market.
segmentation is a creative prcess. marketers normally segment markets by combining several segmentation variables rather than relaying on a single segmentation base. THERE ARE 4 METHODS OF HYBRID SEGMENTATION * Value and Life Style (VALS) * psychographic-demographic segmentation * geo-demographic segmentation * yankelovich's mind base segmentation
Geographic Demographic Psychographic Product Usage Benefits Derived
KFC's, formerly Kentucky Fried Chicken, marketing segmentation is based on the 4 P's; product, price, place and promotion. KFC also uses demographic, geographic and psychographic segmentation.
Market segmentation
When you decide on which criteria to segment the market i.e. demographic,physographic,geographic etc ,segmentation phase is over. On analyzing the segmented market, when you decide which segment to actually offer you product/service ,you have finished targeting. manishmakhija69@gmail.com for comments
gender segmentation, age segmentation, geographic segmentation..
Demographic segmentation embodies categorising a market based on numerous demographic factors such as age, gender, income, education, occupation, and family status. This segmentation strategy helps businesses to better understand the various needs and preferences of different groups within their target market. By collecting data on these demographics, companies can classify common traits and behaviours among consumers. For example, they may find that younger consumers have unlike spending habits than older ones, or that certain products attract more to specific income supports. With this insight, businesses can make their marketing efforts and product offerings to efficiently reach and engage with each demographic segment. In the end, demographic segmentation helps companies bring more personalized and relevant experiences to their customers, driving greater satisfaction and loyalty.
what is the advanteges and dis advanteges of market segmentation?
Demographic segmentation offers businesses an upfront approach to classifying consumers based on easily recognisable characteristics such as age, gender, income, and education level. This segmentation technique is beneficial due to its simplicity and the wide accessibility of demographic data from varied sources. By custom-building marketing messages and products/services to specific demographic groups, companies can improve their targeting efforts and increase the efficiency of their campaigns. However, demographic segmentation has its boundaries. It may oversimplify consumer behaviour, leading to overgeneralization and stereotyping. Moreover, demographic characteristics can change over time, demanding businesses to continuously change their strategies. Despite these disadvantages, when used in conjunction with other segmentation methods and seeing individual preferences, demographic segmentation can be an appreciated tool for businesses aiming to reach their target audience effectively.