Contemporary Marketing
18th Edition
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Louis E. Boone, David L. Kurtz
Chapter9: Market Segmentation, Targeting, And Positioning
Section9.2: Criteria For Effective Market Segmentation
Problem 1LO
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Question
Explain the five requirements for effective market segmentation.
Expert Solution
Step 1
Market segmentation is the method of splitting the market into small groups of people having similar characteristics like age, gender, income.
Segmentation is done in order to identify potential customers.
There are 4 bases of segmentation:
- Behavioral-user status, purchasing habits
- Demographic-gender,age
- Psychographic-lifestyle,attitudes
- Geographic-city,country
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