Social Studies, 26.09.2019 01:00, kfloyd6046

The bases for market segmentation lie into four bases. brielfy list and explain them.

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There are four makert segmentation and they are geographic segmentation, demographic segmentation, psychographic segmentation and behavioural segmentation.

Explanation:

Geographic segmentation

Geographic segmentation is when the business looks for customers based on their geographic boundaries in order to cater to their specific needs based on where they are located.

People's values, preferences and values differ depending on where they are located so it is crucial to understand those values , preferences and interest in order to promote their products appropriately.

For example each country and state have different special dates that they celebrate each year this can help the business come up with appropriate ideas for such holidays.

One needs to know all these holidays celebrations which are different from country to country in order to cater to the customers appropriately.

Demographic segmentation

Demographic looks at variables such as education level, income, gender , age etc . In this segmentation one of these variables is taken into consideration in designing an appropriate product specific to that selected variable .

One has to establish for example the age his product will target in order to know and use accurate methods to reach them .

Psychographic segmentation

Psychographic segmentation deals with internal traits that the potential customers have . Motivations , lifestyle, attitudes and interest are things that are looked at here to establish this the business will conduct research through survey and interviews.

Lifestyle of a person living in a city will likely differ to the style of the person living in rural area.

Behavioral segmentation

Behavioural segmentation shares some similarities with psychographic segmentation in that the focus is on the internal traits of the person this segmentation looks at how people react to a your brand and what drives those reactions .

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The bases for market segmentation lie into four bases. brielfy list and explain them....