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Market Segmentation: The Division of Potential Customers Into Groups With Similar Characteristics
Market Segmentation: The Division of Potential Customers Into Groups With Similar Characteristics
SOCIO-ECONOMIC CLASS –
Some business aim their products at specific social classes, and their
income.
Segmentation
RELIGION / ETHNICITY –
Products may be targeted towards specific religious / ethic groups.
Segmentation
AGE –
The demand for some products is clearly linked to age. For example,
holiday companies segments the market by age.
Segmentation
GENDER –
Some business aim their products specifically at one gender,
producing products just for women or men.
Segmentation
LIFESTYLE –
This method of segmentation attempts to classify consumers according
to their individual patterns of expenditure.
Segmentation
GEODEMOGRAPHIC –
Segments consumers using geographic and economic factors. For example,
where the customer lives and the type of house they live in.
www.upmystreet.com
How would you market:
Consider:
•Age
•Gender
•Religion
•Socio-economic class
•Life-style
•Geographic location
Trainers
Newcastle Brown Ale
Bentley
Incense
Burberry hat
• http://www.youtube.com/watch?v=llJNwdV-
G88
Mass Market
• This is where there is a very large number of
sales of a product
RC
Niche market
• This is a small usually specialised, market
segment of a much larger market.
RC
Niche or mass market?
RC