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- Market segments are groups of consumers who share common characteristics that influence their spending decisions123.Examples of market segmentation include14523:
- Geographic: based on location, such as country, region, city, or neighborhood
- Demographic: based on age, gender, income, education, race, religion, or marital status
- Psychographic: based on lifestyle, interests, values, personality, or attitudes
- Behavioral: based on purchase patterns, usage, loyalty, benefits sought, or price sensitivity
- Product-related: based on specific features, functions, or benefits of a product or service
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral.www.investopedia.com/terms/m/market-segment.aspDividing a target market into segments means grouping the population according to the key characteristics that drive their spending decisions. Some of these are gender, age, income level, race, education level, religion, marital status, and geographic location.www.investopedia.com/terms/t/target-market.aspCompanies can generally use three criteria to identify different market segments: Homogeneity, or common needs within a segment Distinction, or being unique from other groups Reaction, or a similar response to the market For example, an athletic footwear company might have market segments for basketball players and long-distance runners.www.investopedia.com/terms/m/marketsegmentati…6 market segmentation examples
- 1. Cole Haan –– Personalized picks Marketing segmentation type: Behavioral ...
- 2. Aesop –– Buying for Mother’s Day Marketing segmentation type: Demographic ...
www.webfx.com/blog/marketing/market-segmentati…Behavioral, demographic, geographic, product-related, and psychographic segmentation are some of the major types of market segments. However, each business is unique, and therefore the classifications may differ.www.wallstreetmojo.com/market-segment/ - People also ask
Market segmentation — definition, types, and examples
- Demographic segmentation. Demographic segmentation is grouping …
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