Marketing Week 3 Forum.docx - 2 Describe the different...

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2. Describe the different market-segmenting strategies companies pursue and why. Ch. 5 The four different market-segments are behavioral, demographic, geographic, and psychographic. Behavioral segments buyers into what type of benefits the customers are looking for in a product and how they will use it. For example, a swimming pool store will segment customers into those who will use the product daily, compared to those who wouldn’t find it useful to swim every day. Segmenting by demographic breaks consumers down into age, race, and ethnic backgrounds as to why they might purchase the product. Teens and young adults are more likely to purchase racing video games than older adults who are raising a family. When segmenting geographically, the market is chosen by the size of town, region, climate, or population density. Smaller towns will need less bulk markets than larger cities with a higher population. Lastly, segmenting by psychographics allows the business to market to the customer by what they think of and value about the product. Business markets use the activities, interests,
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  • Winter '17
  • Marketing, Demography, Psychographic, different market-segmenting strategies, psychographic. Behavioral segments

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