Why market segmentation is important in the current business market

 Find a group of target people to satisfy their needs and wants

 Dramatic shift from traditional marketing
 Huge diversity happening
 Consumer is at the top
 People are moving towards a preference for customization in product.

Cola using their name on products-show that they care their customers (millennials) switch
their target customers (inclusivity and diversity)

Demographic Base for segmentation

Age & life cycle stage
Life stage
Gender
Income
Generation
Race & Culture

Geo Demographic segmentation

Combines demographic variables and geographic variables to profile very small areas such
as suburbs
Example- bondi junction-causal food/ Asian food and products in Chatswood

Psychographic Base for segmentation

Attitudes
Interests
Beliefs

Behavioural Segmentation

Positioning

Example- Apple- Technology lover/ Fit and healthy

Sample Question
Define the theory
Use examples: Can be personal examples- can be from home countries