Marketing Segments
Define: Splitting a group of buyers into different distinct groups (age, gender,social class) so bussiness can better meet the need and wants of the consumer
Two Types:
Target Market
-The bussiness's specific target group of consumers, to modify to suit the market in order to sell to the customer
Niche Market
-A more narrowly defined group
-Could be a target market (depends), a company targeting specifically a specific race
To identify the segments:
Demographics-data (age, gender)
Geography- Climate, location
Psychographics- Brain (attitudes, values, culture values)
Why do we use segments?
to understand customers-> target-> market strategies-> achieve marketing objectives
Two Types:
Target Market
-The bussiness's specific target group of consumers, to modify to suit the market in order to sell to the customer
Niche Market
-A more narrowly defined group
-Could be a target market (depends), a company targeting specifically a specific race
To identify the segments:
Demographics-data (age, gender)
Geography- Climate, location
Psychographics- Brain (attitudes, values, culture values)
Why do we use segments?
to understand customers-> target-> market strategies-> achieve marketing objectives
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