What are the characteristics of market segmentation?

Regardless of your approach, a useful segmentation should include these six characteristics:

• Identifiable. You should be able to identify customers in each segment and measure their characteristics, like demographics or usage behavior.
• Substantial.
• Accessible.
• Stable.
• Differentiable.
• Actionable.

What are the five demographic characteristics?

Demographic characteristics most commonly used in public health statistics include:

• Age.
• Gender.
• Race.
• Ethnicity.
• Geographic Area.
• Educational attainment.
• Income level.

What is demographic segmentation example?

Demographic segmentation is the process of dividing your market into segments based on things like ethnicity, age, gender, income, religion, family makeup, and education. Instead of going after their entire market, they’re able to show relevant messages to people more likely to care.

What are the main objectives of market segmentation?

The objective of market segmentation is to minimize risk by determining which products have the best chances of gaining a share of a target market and determining the best way to deliver the products to the market.

What is the concept of market segmentation?

Market segmentation is the research that determines how your organisation divides its customers or cohort into smaller groups based on characteristics such as, age, income, personality traits or behaviour. At its core, market segmentation is the practice of dividing your target market into approachable groups.

What are demographics characteristics?

Demographic characteristics are easy to identify. These include qualities such as age, sex, family status, education level, income, occupation, and race.

What are the objectives of market segmentation?

What is the purpose of market segmentation quizlet?

A market segment is a group of individuals or organizations with similar product needs as a result of one or more common characteristics. The purpose of market segmentation is to enable the marketer to tailor marketing mixes to meet the needs of one or more specific segments.

What are the different types of market segmentation?

There are four main types of segmentation used in market research analysis: a priori, usage, attitudinal and need.

What are some examples of demographic segmentation?

Example of Demographic Segmentation. There are many ways in which examples of segmentation based on demographics can be understood. 1. Age- Nappies are for infants (0 to 12 months), puzzles for kids (3 to 8 years), calculators (15 years and above), walking sticks (60 years and above) etc.

What is market segmentation really means?

Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action. Market segmentation…

What are the variables of market segmentation?

Some of the demographic variables that are used as descriptive bases in market segmentation might include age, gender, religion, income, and family size, while some of the geographic variables might include region of the country, climate, and population of the surrounding area.