6. Explain behavioural segmentation.

 Behavioural segmentation refers to a process in marketing which divides

customers into segments depending on their behaviour.

 Behavioural Segmentation helps to improves targeting accuracy.

 Dividing the market into smaller segments, each with a common variable,
allows brands to use valuable time and resources more efficiently.

 If all consumers experienced the same marketing experience than its not
much effective.

 But if market is divided in segments based on their behaviours than

customers can get better experience.

These segments could include grouping customers by:

1. Segmentation based on purchase and usage behaviour

 Segmenting by purchase behaviour depends on the varying trends and behaviour

patterns that customers have when making a purchase decision.

 This form of behavioural segmentation is into the buying stage while customer in
the purchasing process.

2. Occasion or timing-based segmentation

 Occasion-based segmentation categorizes customers who are most likely to

interact with your brand on either specific occasions or set times.
 Occasions could include national holidays like Birthday Day, a holiday season
like Thanksgiving or Christmas, or life occasions, such as a wedding, new house,
or vacation.

3. Benefits sought segmentation

 Segmenting by benefits sought refers to dividing your customers based on your

customer that is looking to gain benefit from your product or service.
 Grouping your data by benefits sought helps you narrow down the specifics of
what attracts customer during purchases, revealing which product feature
customer likes more.
 Divide data by these benefit sought segmentation based on focus of customers
on Quality, Usage, Uniqueness and Customer Feedback.

4. Segmentation based on customer loyalty

 Loyalty-based segmentation measures the level of loyalty a customer has with

your brand.

 Using loyalty-based behavioural segmentation helps you to repeat existing

customers. Their needs, behaviour patterns, and more.

 Besides generating repeat revenue from your business, loyal customers are
incredibly useful in terms of referrals, they tell to other customers and their
feedback.
8. Write a note on point-of-difference.
 Points of difference are the attributes that make your brand unique.
 Differentiation is the way in which the goods or services of a company differ from
its competitors.
 The points of differentiation are the reasons why consumers should choose your
brand over competition.
 These Points of differentiation must be highlight in your brand slogan, and
advertising.
 Differentiation is the way in which the goods or services of a company differ from
its competitors.
9.explain point-of-parity with a suitable example.
 Points of parity are elements that a brand must needs in order to
considered good to the consumer.
 They are places where you need to show you are as good as your
competitors so that you can show their advantage in your product and
refocus attention on your product.
 Points of parity are the reasons consumers add your brand to the list of
alternatives.
 It is what makes consumer consider your product is same as your competitors.
 Points of parity are also pointing of differences that competitors have over your
brand that you need to cover in your brand.
There are two types of Point of parity :-
1. Category Point of parity
2. Competitive Points of Parity

1. Category Point of parity

 A category point of parity means that the brand offers necessary category

features.

Example,
At first some German car manufacturers resisted adding cup holders in
cars, believing that customers would not want such distractions in their cars.
But after some times this became a “must-have” so they have to add them.

2. Competitive Points of Parity

 A competitive point of parity is designed to negate a competitor’s point of

difference.
 A common brand problem is when the quality of the offering is not adequate
in comparison to the competition. Customer prefers bards with quality.

Example,
In the 90s, Hyundai made poor quality cars. But even in 2000, after fixing their
quality problem, people still not prefer the brand because of the bad quality of
brand.

It took years, but through Advertisement programs and communication

Hyundai aware customers about their increased quality levels and gained
quality parity.

11. Explain Porter’s five forces

 Porter’s five forces model is an analysis tool that uses five industry forces to
determine the intensity of competition in an industry and its profitability level
 Business use this tool to analyse the five competitive forces and their impact on
industry.
 It helps identify the strengths and weaknesses of their industry.
 This model helps to build marketing and operational strategies, it also helps you
better understand how your industry’s structured.
 Once you analyse the Five Forces model, you’ll notice which forces helps you to
reach the success to your company.

Five Forces:-

1. Competitive Rivalry 
2. Bargaining Power of Customers 
3. Bargaining Power of Suppliers 
4. Threat of Substitution
5. Threat of New Entry 

1. Competitive Rivalry 

 This force show that how many other companies are in completion in your
industry and how their products compare to yours. 
 The more competitors and valuable products it is more difficult to be the leader in
your industry.
 Customers choose companies with the best deals or lower prices, so if you have
less competition, you’re able to sell your products at higher prices. 

2. Bargaining Power of Customers 

 This model focuses on the power your customers hold over your business.
 If you have only a few customers who regularly purchase your services or
products, they would have more power than if you have more random customers.
 Having only a fix regular customers means they have more power to negotiate
prices that better fit their budget. 

3. Bargaining Power of Suppliers 

 Similar to your customers, your suppliers also have some of power over your
organization as well.
 Depends on how many suppliers can make the specific product you need.
 If you have a large selection of suppliers who can make the products you need at
affordable price, then you typically have more power.

4. Threat of Substitution

 This model refers to how easy it is for customers to replace your product with
another.
 This situation also occurs if your customers can fine without using your product or
do service the service you provide on their own.
 If your provide a service or product that customers can’t replace than your
company holds more power.

5. Threat of New Entry 

 This focuses on how easy it is for people to start a business in your industry
 If a some amount of time and money require to building a successful business in
your industry, then you will have fewer competitors.
 This gives you power to charge higher prices for your products and gives you
more negotiation power over customers.
12. Write short notes on Customer Relationship Management

 Managing customer relationships is a critical element of building a successful

business.
 Customer relations describes how your company engages with customers with
respect to improving the customer experience.
 Customer Relationship Management goal is to build a mutually beneficial
relationship.
 While customer relations involve all parts of the business with the customer
service department.
 This means that the customer service and customer support end-to-end customer
service.  
 Software tools like a customer relationship management (CRM) system can help
improve customer relationships.
 CRM software provides functionality to companies in four segments: sales,
marketing, customer service and digital commerce.

 Types of CRM Technology

1. CRM On-premises Software

2. CRM Cloud Solutions
3. CRM Human Management and Artificial Intelligence

 Benefits of good customer relations

 Customer retention
 Customer loyalty
 Customer satisfaction

 Steps to Build good Customer Relationship Management

 It is require for the sales person to understand the needs, interest as well as
budget of the customers.
 Never tell lies to the customers.
 It is a not good to make customers waiting.
 A sales professional should think from the customer’s perspective.
 Don’t try to sell more than customer need.
 Try to develop trust in you and your product.
 Never be rude to customers.
 Keep in touch with the customers even after the deal. And provide good after sale
service.
 The sales manager must provide necessary training to the sales team to teach
them how to interact with the customers.

13. What is Vertical market?

 A vertical market is a market in which vendors offer goods and services

of specific industry to group of customers with specialized needs.
 vertical Market only focuses products or services of particular industry.
 In vertical market customer base is narrow because most of the product are niche
products.
 Vertical markets are generally being served via ecommerce businesses because
of ability to reach customers worldwide.
 There is less competition in a vertical market than a horizontal market because
there are fewer competitors offering the same product.
 Companies often have more control over how they want to market and price their
products because of the lack of competition in a vertical market.

For example:

An online store that sells specialized football kits. they targeted at football players

 Advantages of vertical markets

 Vertical markets simplify your marketing work.

 Less Competition in vertical marketing.
 Worldwide customers base
 Easy to handle using E-commerce
 Targeting based marketing so you know well that who is your customer and
what they want
 Vertical markets help companies in saving marketing costs

 Dis-Advantages of vertical markets

 Vertical market makes it easier to find and reach your customers, it also limits
the number of available customers you can reach.

 Target markets can shift or change any time.

 Products requirement change customer to customer

19. Write a note on Perception

 Customer Perception

 Customer perception is the opinions, feelings, and beliefs customers have about
your brand.

 It plays an important role in building customer loyalty and retention as well as

brand reputation.

 customer perception is all about how the customer feels about your brand and
their interactions with your brand.

 Customer perception is important because it impacts your business.

 Customer perception is affects your business by both direct and indirect

interactions with your business.

 Customer perception is also important to determine the kind of image a brand

wants to build.

 You can factors such as online reviews, pricing, quality but you can’t control
customer reviews and social media posts about your product.

 Customer perception can be measure by:-

 Collect customer feedback
 Customer satisfaction survey
 Online promotion
 Review customer ratings
 Collect customer feedback

 Factors that influence customer perception

1. Customer reviews
2. Influencers
3. Company values
4. Customer support quality
5. Personal experience
6. Social Media
7. Advertisement

 How to improve customer perception

 Learn what customers think
 Apply your research to product development
 Focus on customer service
 Improve the customer experience
 Respond to customer feedback
 Improve your brand identity

24. What is Indirect Exporting?

 Indirect exporting is the process of selling products intermediary.

 Appoint distributors or third parties to represent your company’s product and sell
it.
 Indirect exporting involves an organization sells to an intermediary in its own
country.
 Then this intermediary sells the goods to the international market and takes on
the responsibility of permits, shipping and marketing.
For small and medium sized companies indirect export is the best way to entering
to the new markets
 lower financial risks involves in Indirect Exporting because Risks transferred to
the third-party
 Profit margin is lower in indirect exporting because Commission of third-party.

Advantages of Indirect Exporting

 Low risk involved

 very few extra staff required
 Wide market coverage possible
 Export process is relatively hands-off
 Increased focus on domestic business while others take care of international
markets
 Depending on which type of intermediary you go with, you may not have to
concern yourself with shipment and other logistics
Disadvantages of Indirect Exporting

 lower profit margins

 no direct customer contact
 You are not fully in control of your foreign sales
 Higher overhead costs
 Lack of direct contact with your so additional research required of their market
 Other competitor can sell same product in their market in lower price

26. Explain Threat of Rivalry

 There are many factors, both internal and external, that can impact a company's
success in the marketplace.

 Competitive rivalry is an external force that has some advantages and some
disadvantages for organizations in that specific field.

 It's useful to understand what competitive rivalry is and how it can affect your
business success. 
 This force show that how many other companies are in completion in your
industry and how their products compare to yours.
 Competitive rivalry is the measurement or intensity of competition between
companies in the same field
 The more competitors and valuable products it is more difficult to be the leader in
your industry.
 Customers choose companies with the best deals or lower prices, so if you have
less competition, you’re able to sell your products at higher prices. 

 Indications of High Intensity of Rivalry:-

 Industry growth is slow
 Fixed costs are high
 Competitors have equal size
 Competitors have equal market share
  Brand loyalty is insignificant
 Consumer switching costs low

 Indications of Low Intensity of Rivalry:-

 Competitors are few

 Unequal size among competitors
 Competitors have unequal market share
 Industry growth is fast
 Fixed costs are low
 Brand loyalty is significant
 Consumer switching costs are high

27. Define Joint ventures

 A joint venture is a combination of two or more parties that seek the development
of a single enterprise or project for profit, sharing the risks associated with its
development. The parties to the joint venture must be at least a combination of
two natural persons or entities.
 The parties may contribute capital, labour, assets, skill, experience, knowledge,
or other resources useful for the single enterprise or project.
 The classic definition of a joint venture is a business arrangement in which two or
more companies combine resources on a project or service.
 Types of joint ventures:-

1. Personnel-based joint venture

This type of partnership covers the Several staff members from Companies A and B
works on specific project.

2. Equipment-based joint venture

This type of venture involves technology or machinery. Both companies can use

each other’s facilities for better development.

 Benefits of joint ventures

 Your business can gain access to markets, resources, people, capital, technology,
etc.
 You can reduce competition
 Working with another business, you can easily reach a goal or objective
 Risks divides in joint venture
 You can easily complete time consuming work
 You can work joint venture on single project without combine your whole
organization

 Risks of joint ventures

 You may find it difficult to work with the other business

 The joint venture could end badly and result in wasted time, effort, money and
resources.
 Profit divides in joint venture
 Additional liability and other legal risks by working with another business.

28. Define Partnership

 A partnership is a business where a formal agreement between two or more

people is made.
 Both agree to be the co-owners and distribute responsibilities for running an
organization.
 Both share the income and losses that the business generates.

 Types of Partnerships

1. General Partnership

o A general partnership comprises two or more owners to run a business. In

this partnership, each partner represents the firm with equal right.
o All partners can participate in management activities, decision making, and
have the right to control the business.
o Also share profits and losses divided equally to all partners. 

2. Limited Partnership

o In this partnership, includes both the general and limited partners.

o The general partner has unlimited liability and manages the business and the
other limited partners have limited control over the business.
o investment of limited partners is limited so they have limited rights and limited
involvement is business.
 3. Limited Liability Partnership (join venture)

o In Limited Liability Partnership (LLP), all the partners have limited liability. 
o Limited liability partnerships (LLPs) each partner put’s limited liabilities into the
business.

 Advantages of Partnership
o Easy Formation using agreement
o Large Resources
o Flexibility
o Sharing Risk
o Combination of different skills

 Dis-Advantages of Partnership
o Unlimited liability
o Profit is shared
o Risk of disagreement between partners
o instability of the partnership

 Characteristics of Partnership

1. Sharing of profits and losses

2. Mutual agency
3. Unlimited liability
4. Lawful business
5. Contractual relationship
29. Define Join Stock Company

o A joint stock company is an organisation which is owned jointly by all its

shareholders.
o It is best suitable forms of organisation for large scale business.
o all the stakeholders have a specific portion of stock owned, usually displayed
as a share.
o Each joint stock company share is transferable, and if the company is public,
then its shares are marketed on registered stock exchanges.
o Private joint stock company shares can be transferred from one party to
another party. the transfer of shares is done by agreement.
o In a joint stock company, the liability of the shareholders is limited to the value

 Types of Joint Stock Company

1. Chartered Company

o A firm incorporated by the head of the state is known as a chartered

company.

2. Statutory Company

o A company which is formed by a particular act of parliament is known as a

statutory company.
 3. Registered Company

o An organisation that is formed by registering under the law of the company

comes under a registered company.

 Characteristics of a joint stock company

o Independent legal entity

o Limited liability
o Common seal
o Separate ownership and management
o Transferability of shares
o Perpetual existence
o Association of persons

 Features of Joint Stock Company

o Separate Legal Entity
o Perpetual 
o Number of Members
o Limited Liability
o Transferable share
o Incorporation
30. Explain Maslow’s Hierarchy of Needs

o Maslow’s Hierarchy of Needs Theory is regarded as one of the most popular

theories on motivation.
o It is a theory of psychology that explains that humans are highly motivated in
order to fulfil their needs, which is based on hierarchical order.
o The Maslow’s Hierarchy of Needs structured based on priority of the needs.
The original Maslow’s hierarchy of needs has five-stage models, and it is briefly
explained below.

Stage:1 Biological and Physiological Needs

o The physiological needs are regarded as the most basic of the needs that
humans have.
o These are needs that are very crucial for our survival.
o The examples of physiological needs are Air, food, shelter, warmth, health, sleep
and water, etc.

Stage:2 Safety Needs. 

o The next level is known as the safety needs. the primary concern of the individual
is related to safety and security.             
o financial security, personal security, emotional security, physical safety, Natural
safety

Stage:3 Social Needs (Love and Belonging Needs)

o This is the third level in the need hierarchy theory. It is that stage where an
individual having feelings and emotional need for Love and Belongingness.   
o Love, Friendship, Family, Friends, Social groups

Stage:4 Esteem Needs.   

o This level is the fourth level of the hierarchy of needs theory. It is related to the
need of a person being recognised and self-respect in society.
o Status, Self-Respect, Achievement, Mastery in something, Independence

Stage:5 Self-Actualization Needs.   

o This is the final level of the theory of hierarchy of needs. It is the highest level of
needs and is known as the self-actualization needs.
o It relates to the need of an individual power of their ability or potential.
o Seeking Personal Growth, personal development, Self-Fulfilment and Realizing
Personal Potential.

33. Explain three types of Buying situations for a consumer

 When the buyer is ready to make a purchasing decision, buyer is involves in one
of those buying situation. 

 There are three major types of buying situations:-

1. Straight rebuy
 2. Modified rebuy
3. New Task

1. Straight Rebuy
o The straight rebuy is one of the types of buying situations, in which the buyer is
focused on reordering some product or service without any modifications.
o the buyer handle ordering situation on a routine basis.
o The buyer make a purchasing contract to provide product on a routine basis and
in high volumes at fixed prices.
o once contract is made after that buyer is not searching for new sellers of that
product.

2. Modified Rebuy
o The modified rebuy is the type of a buying situation, in which the buyer is
interested in modifying the product’s specifications like colour, design and also
change prices, terms, or suppliers.
o In this type of buying situation, the buyer is interested in making changes in the
original service provided by the seller.
o Both the buyer and the seller should recognize the need for these changes.
o The buyer can use this type of buying situation to set new terms and deal.

3. New Task
o The new task is a buying situation, in which the buyer makes a purchase of some
product or service for the first time.
o This type of purchase is not made frequently so In this situation buyers has not
any relationships with the seller.
o the buyer does not have past experience for buying a product or service so buyer
is focused on testing the quality of this product or service.
o And also try to find more new sellers so the buyer needs much time to make a
purchasing decision in this buying situation.

36. Explain the Stages to Set-up business in International Market

37. What is Waterfall Approach

o Waterfall marketing process involves creating a plan and then executing it in

stages over time until your product is ready to be released.
o Waterfall marketing breaks projects into several phases, with each phase
dependent on the timely completion of the previous phase to start next phase.
o Owners and core stakeholders can be set within each phase, and tasks within
each phase can also be broken down into smaller waterfalls.
In marketing, these phases are typically broken down into:

1. Conception
2. Initiation and information gathering
3. Analysis
4. Design
5. Construction
6. Testing
7. Implementation
8. Maintenance

1. Conception

o The first phase is starting at the very top of the waterfall model with

conception.
o In this stage the project or product is identified and planning of complete that
project.

2. Initiation and information gathering

o the company is more well-informed of the all required efforts for completing
project.
o the company must try to collect more information on what it will take to make
the project in to reality.

3. Analysis

o The third phase of waterfall marketing is the analysis phase.

o This is another phase where your company reviews the upcoming project
from all angles.

4. Design

o The fourth phase design phase. this phase brings ideas to shape.
o Any useful suggestions during the analysis phase could now apply to the
design of this product or project.

5. Construction

o This fifth phase is construction it is all about making things happen.

o You’ve analysed your idea and designed it, so now you to make it a reality
and perform physical construction work.

6. Testing
 o This sixth phase is testing it is all about testing of product.
o Before launching new products it is required to be tested. In this stage testing
is performed on the constructed product.

7. Implementation

o This seventh phase is implementation.

o In this stage if any implementation is required is required after testing that it is
done in this stage.
o After that perform repeated testing if there’s nothing wrong with the product
than release it into the world for use.

8. Maintenance

o Finally the eighth and final stage that is maintenance.

o This is where you handle complaints that may come from customers and see
if something can be done to make the product even better.

Advantages

o Logical structure of the model helps to avoid and solve error

o Project progress can be monitored using milestones
o Find estimated total cost 
o Technical documentation is used in future and also in test phase

Disadvantages

o Errors sometimes lead to rising costs

o Complication time takes more because step by step working of every
department

38. Write a note on Brand Marketing

o Brand marketing is the process of establishing and growing a relationship

between a brand and consumers.
o Rather than highlighting an individual product or service, brand marketing
promotes the entirety of the brand.
 o Brand marketing describes a long-term, strategic plan to continuously boost a
brand's recognition
o Marketing of product as well as brand.
o Using the popular product of brand also marketing of brand’s other products.
o The goal of brand marketing is to build a brand’s value and the company’s
value.
o The channels available for a brand marketing strategy are the same channels
that companies can use for product marketing activities, such as digital
marketing, social media, and paid search advertising.
o A good strategy is to use different channels together to create a media
mix that reaches a wide audience.
o Brand marketing pursues a long-term goal of building a continually growing
base of loyal customers through communicating your brand's identity and
values. 

 Objectives of Brand Marketing

 Brand awareness
 Brand loyalty
 Brand advocate
 Brand equity
 Brand engagement
 Brand identity and image

 Strategies of Brand Marketing

 Brand-name recognition
 Individual branding
 Attitude branding
 “No brand” strategy
 Brand extension
 Private label
 Crowdsourcing

39. Explain Psychographic segmentation and Geographic segmentation

 Psychographic segmentation
  Psychographic segmentation is defined as a market segmentation technique
where groups are divided based on buying behaviours of Personality,
Attitudes, lifestyle, social status, opinions and activities.
 By analysing their personalities, lifestyles, or social status you can connect
with them on a more personal level.
 Based on those factors, you can adjust your offers, marketing messages,
and advertising channels to maximum sale and profit.
 Understanding of psychological attributes can greatly improve your reaching
methods to customers.
 This approach saves time and money because you know your customer’s
needs.
 You can customize and improvement in your product as per your customers
requirement.

 Geographic segmentation

 The definition of geographical segmentation is a marketing strategy that

involves dividing customers into groups based on geographic characteristics.
 This strategy can include dividing consumers by geographic
area, climate, population densities, and other geographic characteristic of
interest to a business.
 There are several benefits of using geographical segmentation in marketing.
 Geographic segmentation attempts to classify customers based on their
geographic location. 
 Factors such as climate and population can impact geographic segmentation.
 Geographical segmentation is an important tool for businesses to understand
their customer base, which helps them create targeted marketing
 when business is targeting a specific neighbourhood, city, region, or country,
geographical segmentation can help that business to reach its potential
customers. 

40. What is Direct Investment

 Direct investment is more commonly referred to as foreign direct investment.

  Foreign direct investment (FDI) is an investment made by a company or an
individual of one country opening its own business operations in another
country.
 Direct investment provides capital funding in exchange for an equity interest
without the purchase of regular shares of a company's stock.
 FDI is an important factor of economic growth.
 Any investment from an individual or firm that is located in a foreign country
into a country is called Foreign Direct Investment. 
 FDI is when a foreign person holds ownership or controlling stake in the
shares of a company in another country.
 It is a major source of non-debt financial resources for the economic
development of a country.
 FDI is not just the money but it’s also of technology, knowledge and skills.

There are three major types of direct investment:-

1. Horizontal FDI
 
Horizontal FDI occurs when a company makes a copy of its home-based
business abroad through direct investments.

2. Vertical FDI

Vertical FDI  happens when a company moves down or upstream in different

value chains through a direct investment. For example, when companies
perform value-adding activities in a host country.

3. Conglomerate FDI

Conglomerate FDI  is a less common type of direct investment, where an

existing company adds an unrelated business operation abroad.

42. What is Product invention

Product invention refers to create new products or services for foreign
market.
It consists of creating something new to meet the needs of consumers in a
given country.
For example, companies ranging from computer and carmakers to candy
producers have developed products that meet the special purchasing needs
of low-income consumers in developing economies such as India and China.

Invention is the creation of new products or processes.

These can be completely novel and untried or may be derived from previous products, but
with sufficient new features or technical attributes, that a firm can patent the design or
copyright ideas included in the development. 
Many inventors do their own “leg work” when it comes market analysis and making
contacts/developing business leads for marketing their invention. An inventor may
wish to license his technology to a manufacturer and receive a royalty payment, or
sell his Intellectual Property outright. Industry or trade organization Web sites and
trade shows can be an excellent starting point for developing contacts and business
leads. Another approach is to hire a manufacturer or fabricator to make a patented
product, and the inventor sells the product through retail outlets, the World Wide
Web, etc.

Many states have planning and development agencies or departments of commerce

and industry to assist inventors. For more information, visit the Small Business
Administration Web site.

43. What is “Pure Play” auction

49. Difference Between Total customer benefit & total customer cost
Total Customer Cost: Total customer cost is the total coast customer expects to
pay in the buying, shipping and maintaining of product.

 Advertising/marketing is Required
 Hire extras staff
 Over the planned budget
 Buy extra equipment
 Delivery cost door to door

Total Customer Value: Total customer value is the relationship between what a
customer pays and what they receives when making a purchase.

 Gained any leads

 Staff was able to help the customer enquiries
 Meet the demand and supply
 Extra equipment made it easy
 Customer was satisfied with quick delivery

51. What is Market segment

 Market segmentation is a process that consists of sectioning the target market
into smaller groups.
 These segments can be used to optimize products, marketing, advertising and
sales efforts.
 Segmentation allows brands to create strategies for different types of consumers.
 There are four main customer segmentation models that should form the focus of
any marketing plan.

The 4 basic types of market segmentation are:

1. Demographic
2. Psychographic
3. Geographic
4. Behavioural

1. Demographic segmentation

Demographic is one of the simplest and most commonly used forms of

segmentation. the products and services we buy, which products we use, and how
much spend is based on demographic factors.

Demographic segmentation is based on:

 Age
 Gender
 Ethnicity
 Income
 Level of education
 Religion
 Profession/role in a company

2. Psychographic segmentation

 Psychographic segmentation is focused on your customers’ personalities and

interests.
 Compared to demographic segmentation, this can be a harder set to identify.
 By analysing their personalities, lifestyles, or social status you can connect
with them on a more personal level.
 Based on those factors, you can adjust your offers, marketing messages,
and advertising channels to maximum sale and profit.

Psychographic segmentation is based on::

 Personality
 Hobbies
 Life Style
 Social status
 Values
  Lifestyles

3. Geographic segmentation

 The definition of geographical segmentation is a marketing strategy that

involves dividing customers into groups based on geographic characteristics.
 Geographic segmentation attempts to classify customers based on their
geographic location. 
 Factors such as climate and population can impact

Geographic segmentation is based on:

 Country
 Region
 City
 Postal code

4. Behavioural segmentation
 Behavioural Segmentation divides markets by behaviours and decision-making
patterns.
 Behavioural segmentation is possibly the most useful of all for e-commerce
businesses.

Behavioural segmentation is based on:

 Spending habits
 Purchasing habits
 Browsing habits
 Interactions with the brand
 Loyalty to brand
 Previous product feedback