How do we Segment Consumer Markets?
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All right so as marketers we like to
look at a market and break it down into
different groups or different segments.
The question is
how do we break the market down in other
words what do we look at
to identify similar groups or segments
that are the same as each other but
different from others well
there's some different things that we
can go by. One is
the consumer behavior in other words how
often do they purchase
how much do they purchase which
particular products do they purchase
those are all
good ways for us to to break out
in other words those are all different
behaviors that consumers engage in.
Another way we can break down the market
into different segments
is by geography we can split it up by
region or state or whatever makes sense
it might be
different towns within a small region
that we operate in either way if
geographic differences are meaningful to
consumers or our product then that's a
good way to segment the market.
Lastly a very common basis for
segmenting the market
is demographics and this is because
these things not only make consumers
but it tends to affect the sorts of
things that they purchase or the ways
they respond to advertisements
so consumers ages or income levels or
levels of education or ethnic or
all of those things affect the way
consumers might respond to our marketing
mix or our marketing strategy.
So demographics geography
and consumer behavior are all different
things that we could look at when we
figure out how we should segment our