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  • Segmentation

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    Peter Conner
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    Marketing involves the exchange of goods and services between producers and consumers, where their values are determined by money prices. It begins with identifying a consumer need and ends with satisfying that need through timely delivery of a usable product at an acceptable price. Segmenting the market allows businesses to better match customer needs, enhance profits, pursue growth opportunities, retain more customers, and target marketing communications to gain market share. Market segmentation can be based on demographics, geography, behavior, or psychographics.

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    TYPES OF SEGMENTATION

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    segmentation

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    Marketing involves the exchange of goods and services between producers and consumers, where their values are determined by money prices. It begins with identifying a consumer need and ends with satisfying that need through timely delivery of a usable product at an acceptable price. Segmenting the market allows businesses to better match customer needs, enhance profits, pursue growth opportunities, retain more customers, and target marketing communications to gain market share. Market segmentation can be based on demographics, geography, behavior, or psychographics.

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    © All Rights Reserved
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    9 views3 pages

    Segmentation

    Uploaded by

    Peter Conner
    Marketing involves the exchange of goods and services between producers and consumers, where their values are determined by money prices. It begins with identifying a consumer need and ends with satisfying that need through timely delivery of a usable product at an acceptable price. Segmenting the market allows businesses to better match customer needs, enhance profits, pursue growth opportunities, retain more customers, and target marketing communications to gain market share. Market segmentation can be based on demographics, geography, behavior, or psychographics.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    of 3

    DEFINITIONS OF MARKETING

    1. Marketing is the economic process by which


    goods and services are exchanged between the
    producer and the consumer and their values
    determined in terms of money prices.

    2. Marketing originates with the recognition of a
    need on the part of a consumer and terminates
    with the satisfaction of that need by the delivery
    of a usable product at the right time, at the right
    place and at an acceptable price.


    IMPORTANCE OF SEGMENTATION
    Better matching of customer needs

    Enhanced profits for business

    Better opportunities for growth

    Retain more customers

    Target marketing communications

    Gain share of the market segment


    BASIS OF SEGMENTATION
    A Demographic
    Age, sex, family size
    Income, occupation, education
    Religion, race, nationality
    B Geographic
    Region of the country
    Urban or rural
    C Behavioral
    Product usage - e.g. light, medium, heavy users
    Brand loyalty: none, medium, high
    Type of user (e.g. with meals, special occasions)
    D Psycho graphic
    Social class
    Lifestyle type
    Personality type

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