and its variablesMarket segmentation can be broken down into several variables; Geographical which consists of regional‚ city size‚ density and climate breakdown. The demographical variables include age and life-cycle stage‚ gender and income. Psychographic segmentation will divide consumers into different groups based on socioeconomic status‚ lifestyle or personality characteristics. Lastly behavioral segmentation‚ which groups consumers on their basis of knowledge of the product‚ their attitude
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The marketing strategies used in this article clearly define demographic and psychographic market segmentation. Demographic segmentation consists of gender‚ age‚ income‚ family size‚ family life cycle‚ occupation‚ and education. The target market in this article consists of females‚ age 18-20‚ single‚ with no more education than high school. This matches most of the criteria for demographic segmentation. Psychographic segmentation consists of identifying certain lifestyles based on the consumer’s
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segments‚ this allow marketers to effectively determine whether business can thrive in a particular area. Segmentation is based on four factor namely geographical‚ psychographic‚ demographic and lastly behavioral segmentation. Geographical segmentation refers to grouping markets geographically such as nations‚ states or cities. Psychographic segmentation is the dividing of buyers into groups based on lifestyle or social class/status. Demographic segmentation uses factors like age‚ gender‚ occupation
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MARKET SEGMENTATION BY- SUNIT KUMAR MISHRA • CONCEPT AND DEFINITION The concept of market segment is based on the fact that the market of commodities are not homogeneous but they are heterogeneous. Market represent a group of customer having common characteristics but two customer are never common in their nature‚ habits‚ hobbies income and purchasing techniques. • According to Philip kotler ‚ “ Market segmentation is sub-dividing a market into distinct and homogeneous subgroups of customers
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variables‚ geographic variables‚ psychographic variables and behavioristic variables from larger markets into smaller section‚ known as segmentation. DiGi should be able to know the demographic variables of the customers such as age‚ gender‚ race‚ and the rest. In the geographic variables‚ DiGi must know the customers religion‚ the market density‚ terrain and so on. Personality attributes‚ motives‚ lifestyles of the customer would be the variables of psychographic variables. Behavioristic variables
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the common bases of market segmentation are: demographic‚ psychographic‚ geographic‚ and behavior. When we talk about demographics‚ we are mentioning age‚ gender‚ race‚ ethnicity‚ income‚ education‚ occupation‚ family size‚ family life cycle‚ religion and social class. I have already mentioned that the target market in terms of ages are young adult athletes that tend to buy more and more to play sports or use it for gym purposes. Psychographic would mean motives‚ lifestyles‚ and personality attributes
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Term paper On Consumer Behavior Toward [pic] Prepared For Md. Farhan Faruqui Senior Lecturer‚ Department of Business Administration Prepared by |Name |ID | |Mir Saif Newaz |2008-2-10-234 | |Md. Sarwaruzzaman
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Credit Union Journal. 9/5/2005. Vol. 9 Issue 35. Shoham‚ A Kalra‚ A. Goodstein‚ R. (1998). The Impact of Advertising Positioning Strategies on Consumer Price Sensitivity. Journal of Marketing Research. Volume 35. Issue 2. Wells‚ W.D. (1975). Psychographics: a critical review. Journal of Marketing Research. Volume 12. Websites Venkatesh Shankar (2001). Segmentation: Making Sure Your Customer Fits in Mastering Management. Financial Times. 22nd January.
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09/08/2011 SITUATION ANALYSIS/ TARGET MARKET IDENTIFICATION Curtin College Ms. Desiree Jones Trimester 2‚ 2011 Situation Analysis/ Target Market Identification SITUATION ANALYSIS/ TARGET MARKET IDENTIFICATION 1.0 Situation Analysis/ Current marketing Mix 1.1 Current Product A rnott‟s Tiny Teddy is a brand of sweet biscuits which has children aged between 3 – 7 years old as a primary focus market (Ryan 2002). Each biscuit is small in size and formed as a tiny bear which kids
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which will get the largest share for the company. The marketing function will therefore focus on targeting this segment. (Irish Times – Business 2000). For Nike‚ they have to breakdown the market into four categories: geographic‚ demographic‚ psychographic‚ and behavioural. For geographic‚ the country that the product will be released is within the UK. This includes all over England‚ Scotland‚ Wales‚ and the North of Ireland‚ with the main cities involved in sport being targeted. This is due to the
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