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2-25-08 Segmentation

2-25-08 Segmentation - Segmentation subgroup of target...

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Unformatted text preview: 2-25-2008 Segmentation subgroup of target market. How they behave as a group. What stimulates them, or motivates them to this want. * A specific group of individuals that have a homogenous characteristic in common / that directly relates to propensity. Propensity driving force behind peoples interest. Willingness to purchase the good or service. 4 ways we segment 1. Demographic most used because it's the easiest a. Age, gender, race, income b. Who are they? c. Tends to be useless because we cannot relate it to propensity d. Less than 20% of propensity is determined by demographics 2. Behavioral a. Don't always exist b. Occurs when the segment we are after and already has an apiore= prior knowledge. c. 3. Psychographic a. Culture, b. Why people do what they do. c. Directly relates to propensity but is very difficult to collect d. Can be 70% of propensity determined by psychographic 4. Geographic a. In certain locations we react as a group to certain products/ situations b. Where are they ...
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