Types of Market Segmentation.docx

Types of Market Segmentation.docx - Types of Market...

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Types of Market Segmentation: The most important variables in segmentation are based on demographics, geographic, psychographics & behavioural. These are explained in detail below: 1. Demographic Segmentation: Slicing the market on criteria based on demographics like age, gender, income, family members, educational qualification, socio-economic status etc, is called demographic segmentation . 2. Geographic Segmentation: When a population is divided on the basis on geographies i.e. country, state, city, village, region, postal code etc, it is referred to as geographic segmentation . 3. Psychographics Segmentation: Segmentation done based on personality of people, their characteristics, their lifestyle, social status etc is called as psychographic segmentation . 4. Behavioural Segmentation: When companies divide the market based on the customer behaviour or usage patterns, it is known as behavioral segmentation . Definition: Geographic Segmentation Geographic segmentation in marketing is dividing the market on the basis of regions or geographies. Geographic segmentation can be classified by parameters like countries, states, cities, villages, urban / rural, climatic conditions, density of population. This type of segmentation helps to reach out to customers living in a
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