Consumer segmentation criteria - Marketing Strategy

Segmentation criteria can be divided into three main categories:

  • Profile variables :are used to characterize the consumer but in terms that are not expressly linked to, or predictive of, an individual’s behavior in the specific market.
  • Behavioral variables :relate to the behavior of the consumer. Thus behavioral factors such as benefits sought, usage, and the purchase occasion all come under this category.
  • Psychographics variables :identify an individual’attitudes, opinions and interests to build up a lifestyle profile that includes the consumer’s consumption patterns. Thus these profiles are inextricably associated with specific purchasing behavior. Segmentation is a creative process and can be conducted using a range of different variables each bringing a particular perspective to the dynamics of the market. The air travel market could be segmented according to the benefits sought (value or status),or usage occasion (business or holiday), or stage in the family life cycle(young and single or middle-aged, married with kids). On occasion it may be relevant to use a single variable to segment a market, but more often than not variable swill be used in combination. For instance, a potential market segment in the air travel market could be middle-aged consumers with children who seek status benefits for business travel.

Innovative combinations of variables from across the range can uncover new market segments, even in supposedly traditional markets. There is no hierarchy to these variables. Marketers can use any variables a starting point (first-order variables), and then add further variables(second-order variables) to give the grouping a clearer definition. Thus segment of consumers seeking physical fitness may initially be determined using benefit segmentation. Profile variables may then be added such as age, gender,geode etc., to identify more clearly the consumer in order to allow the company to develop specific media communication and distribution plans.

The buying process

The buying process

All rights reserved © 2020 Wisdom IT Services India Pvt. Ltd DMCA.com Protection Status

Marketing Strategy Topics