Imagine you are about to launch a new product or service in multiple locations. How do you tailor your marketing message
to resonate with each region’s unique needs? One tried-and-true approach is geographic segmentation.
You might have heard about it in introductory marketing courses—perhaps … Read more...
As implied by the name, benefit segmentation is splitting up the market based upon the key benefits and needs sought by purchasing consumers. As a result, benefit segmentation is a very consumer-centric approach as it identifies the core product needs of the consumers.
Note for students: … Read more...
Market segmentation is fundamental to effective marketing, enabling organizations to tailor products, messages, and distribution channels to more specific consumer groups. This approach generally increases efficiency and customer satisfaction by acknowledging that not all consumers share the same needs or behaviors. Demographic segmentation—dividing the market based on … Read more...
Psychographic segmentation , also known as lifestyle segmentation, is one of the four main segmentation bases used in segmenting consumer markets, with the others being geographic, demographic, behavioral (which is sometimes also split down into benefits segmentation).
As you may have guessed, the word “psychographic” the … Read more...
This website has around 15 examples of how to segment a market, ranging from the banking, to fast food, to fitness centers, and so on. Each market segmentation example gives you a brief discussion of each customer segment and how their needs differ. These pages and examples are designed … Read more...
Business market segmentation is a crucial process that enables firms to categorize their potential customers into distinct groups based on shared characteristics. Unlike consumer segmentation, where personal preferences and behaviors are often the focus, business market segmentation delves into organizational traits and … Read more...
Market segmentation is often touted as one of the most foundational aspects of modern marketing. By categorizing consumers into smaller, more homogeneous groups, organizations can achieve precision in everything from product design and pricing to communications strategy. However, choosing which segmentation … Read more...
