A market segment consists of a large identifiable group within a market. A company that practices segment marketing recognizes that buyers differ in their wants, purchasing power, geographical locations, buying attitudes, and buying habits. Because buyers have unique needs and wants, each buyer is potentially a separate market. Ideally, then, a seller might design a separate marketing program for each buyer, though no company is willing to customize its offer \ communication bundle to each individual customer. The company instead tries to isolate some broad segments that make up a market.
Two broad groups of variables are used to segment consumer markets. Some researchers try to form segments by looking at consumer responses to benefits sought, use occasions or brands. Other researchers try to form segments by looking at consumer characteristics. They commonly use Geographic, Demographic or Psychographic characteristics.
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