Market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. It is a market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education.
Lesson Summary. Psychographic segmentation involves dividing your market into segments based upon different personality traits, values, attitudes, interests, and lifestyles of consumers. This segmentation is advantageous because it allows you to engage in product design and marketing in a focused manner. Definition of Psychographic Segmentation. Psychographic segmentation is dividing your market based upon consumer personality traits, values, attitudes, interests, and lifestyles. DEFINITION of 'Market Segmentation'. A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action. From Wikipedia, the free encyclopedia. Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them. Segmentation according to demography is based on variables such as age, gender, occupation and education level or according to perceived benefits which a product or service may provide. Demographic Segmentation. Segmentation generally divides a population based on variables. Thus demographic segmentation too has its own variables such as Age, gender, family size, income, occupation, religion, race and nationality. Demographic segmentation is one of the most commonly used forms of segmentation as it is clearly identifiable. The variables used for Demographic segmentation help divide a large population into specific customer groups. 1) Age – One of the first variable of demographic segmentation is age. This is because consumer needs and wants change with their age. A youngster might want a mobile phone but an earning professional will want a communicator with lots of extra features such as email and file editing support. The phrase a demographic is a slang term that refers to demographic segmentation, one of the common strategies companies use to segment markets. A target market is a specific group of customers selected as the target of a given ad campaign.  Demographic segmentation is market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. Demographics can be segmented into several markets to help an organization target its consumers more accurately. Instructor: Molly Gigli. There are ways to target a specific market for your product or service. Demographic segmentation is one of the ways to target a specific group of consumers. Read on to learn more about demographic segmentation and its advantages and disadvantages. Definition. Market segmentation based on differences in demographic factors of different groups of consumers. It is one of the five common segmentation strategies, and aims to define specific niches that require custom promotion.  Definition: Segmentation means to divide the marketplace into parts, or segments, which are definable, accessible, actionable, and profitable and have a growth potential. In other words, a company would find it impossible to target the entire market, because of time, cost and effort restrictions. Definition of 'Segmentation'. Tweet. DEFINITION of 'Demographics'. Studies of a population based on factors such as age, race, sex, economic status, level of education, income level and employment, among others.
http://study.com/academy/lesson/psychographic-segmentation-in-marketing-definition-examples-quiz.html http://www.investopedia.com/terms/m/marketsegmentation.asp https://en.wikipedia.org/wiki/Market_segmentation http://www.marketing91.com/demographic-segmentation/ http://smallbusiness.chron.com/differences-between-target-market-demographic-23090.html http://study.com/academy/lesson/what-is-demographic-segmentation-in-marketing-definition-advantages-disadvantages.html http://www.businessdictionary.com/definition/demographic-segmentation.html http://economictimes.indiatimes.com/definition/segmentation http://www.investopedia.com/terms/d/demographics.asp
what is demographic segmentation definition