Segmentation, Demographic, Psychographic And Behavioral

segmenting customer groups. The psychographic segment variables include people with similar personalities, values, and lifestyles. The last of the segmentation bases of the U.S. consumer markets would be behavioral segments. These are actions a person takes in purchasing and using products and services. Some of these segment variables include outlet type, direct, product features, usage rate, user status and awareness/intentions. Once the segmentation of the market is developed, the second step is to group products to be sold into categories. One can then develop a market-product grid and estimate the size of the markets. A market-product grid is a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 3 Steps four and five consist of using the segmentation will help to develop the target markets, which in turn will then lead to successful marketing actions. Successful segmentation depends on

Demographic Segmentation fragments the market into categories according to different demographic factors, usually with regards to the wants and needs of multiple consumer groups. The

Geographic segments would be based on a person’s country, region, or city size. Lastly, behavioral would consist of groups divided by occasions, usage, or attitudes when making a decision on whether or not to purchase the product/service (Werner, 2017). These variables can be analyzed through various methods including interviews, questionnaires, and customer data (Harvard, 2016).

This type of segmentation is about the buying behavior of the consumers. In this case, it is about how people behave in terms of entertainment and social interaction.

The age of exploration and European colonization should be considered a tragedy. Obviously, there are positives and negatives to any situation. However, during this time period there were more tragic circumstances. It was a tragedy because so many innocent people died, in Jamestown, the columbian exchange, and from being slaves.

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

With psychographic segmentation, we use psychology and demographics to better understand consumers. Buyers are divided into different groups on the basis of psychological/personality traits, lifestyle

“Every successful individual knows that his or her achievement depends on a community of persons working together” (Ryan). These words said by Speaker of the House Paul Ryan, reflects the words my parents would always say to me when I was little. I would donate old clothes that did not fit, or toys I did not play with anymore. Every summer I would volunteer at my town’s public library, as well as at my church. However, as I got older, doing the simple tasks at the library felt tedious and uninteresting so I stopped volunteering for a while. There were times when I had spare time that could have and should have been put to use volunteering, but I did not have the motivation. However, after being inducted into my High School’s National Honors Society, I needed volunteer hours in order to remain in it. This was the motivation I needed to begin volunteering again.

Relying purely on socio-economic and demographic data only provides a partial glimpse into the needs, preferences and wants of a given target market. Psychographic-based segmentation research is often used for determining how potential customers' self-assignment to groups, unique interests and preferences for retail products and services influence and often predict their purchasing behavior and long-term loyalty (Bearden, Teel, Durand, 1978). Psychographics is the study of how customers assign

Using the geographic segmentation approach, they have divided the market into two segments rural and urban, of which they serve the urban. Behavioral segmentation divides the market according to attitudes, they have located themselves at strategic positions and provided ambience in the restaurant to satisfy different temperaments of people. In employing psychographic segmentation, they have divided the market on the basis of lifestyle preferences. In using price segmentation, they have divided the market in lines of luxury, economy, and value.

into different groups according to their demographics, cultural values, or beliefs. In general, most segmenting characteristics are behavioral and cognitive (Schiffman & Wisenblit, 2014). Behavioral factors are data based such as age, gender, and purchasing habits (Schiffman & Wisenblit, 2014). Cognitive factors are opinionated characteristics such as attitudes and values (Schiffman & Wisenblit, 2014). Segmenting a market can be a difficult process because some of the characteristic used are abstract and lay in the minds of the consumers.

International market segmentation is the dividing of market into segments, this allow marketers to effectively determine whether business can thrive in a particular area. Segmentation is based on four factor namely geographical, psychographic, demographic and lastly behavioral segmentation. Geographical segmentation refers to grouping markets geographically such as nations, states or cities. Psychographic segmentation is the dividing of buyers into groups based on lifestyle or social class/status. Demographic segmentation uses factors like age, gender, occupation and etc to separate markets into groups. Last but not least, behavioral segmentation, this kind of segmentation divides buyer into groups by their knowledge about particular

Explain the process of market segmentation and targeting, and the benefits of segmentation and targeting to Clare’s Chocolates. (150 words) Market segmentation is gathering of potential buyers into groups, that have common needs and it will help you to market your products and services effectively. So that you have more understanding how to market your products and

During this summer, for the month of June, I studied abroad in Paris, France. I am a Fashion Merchandising major at Ashland University. When traveling to Paris for a month, I studied fashion at the Paris Fashion Institute. My experience was unbelievable and I would not take it back for anything. The purpose of me doing this program was to complete the university GPS requirement and to broaden my knowledge in fashion. Paris is the largest fashion capital in the world. Throughout the experience, I had to adapt to the culture in many different aspects.

Consumers are the centre of many marketers work. While the consumer is part of the marketing environment, it is also very important to recognise and understand the more personal and specific influences effecting consumers and the nature of the decision making process they use.