The final part of the SEGMENT – TARGET – POSITION process is Product Positioning which shows the perception customers have about the product.
Posts tagged as “market segmentation”
This article is about behavioral market segmentation. Behavioral factors include outlet type, occasions, usage loyalty and benefits sought.
Demographic market segmentation includes age, gender, race and ethnicity, marital status, family size, occupation, income, language and religion.
Geographic market segmentation divides the market into different geographical units. Geographic factors include location, climate and population density.
A consumer profile is a descriptive picture of a typical consumer of the firm’s products in a specific market segment. A picture of the typical consumer.
The whole market consists customers with different preferences. Market segmentation helps to discover people with similar characteristics.
Special characteristics of the market include geographic characteristics, demographic characteristics and psychographic characteristics.