Considered the most common one that deals with basic demographic factors such as age, income, gender etc and divides the target customers into segments based on these variables the geographic segmentation divides the target customers into segments based on geographical areas such as nations, regions, cities etc. Studying and differentiating the segments will allow tesla to look at the consumer similarities within a segment and dissimilarities across segments geographic segmentation is used when a product satisfies a customer's want or need that is specific to a region tesla can use a geographic segmentation because gas prices. As a small business owner, your goal is to provide customers with products and services that fulfill their needs and wants, based on research you gather about a given market through research, you come up with a list of demographics -- statistics, characteristics and qualities that represent your ideal target market. Bases for segmentation: users markets can be divided on the basis of these customer characteristics 1 geographic area 2 demographic area 3 psychographic area 4 behavioral area geographic: nature: nestlé singapore segmented its market for nescafe ice depends on the geographic weather: warm hot and cold. Our town usa has built a brand new amusement park the marketing team for fantastic adventure park is confused about how they should segment the market the team wants to make sure that the overall marketing and segmentation strategy is effective and produces the highest amount of overall sales this year.
Generally, the market segmentation can be divided into four different groups – geographic, demographic, psychographic and benefit oriented geographic segmentation geographic segmentation involves targeting specific consumer groups according to their geographic locations in national and. Stock market reaction to the mandatory segment reporting changes and the second part studies how the stock market geographic disclosure more than firms that are not affected by sfas 131, suggesting that the reduced the second essay examines the relation between a series of past earnings increases and the. Psychographic segmentation is one which uses peoples lifestyle, their activities, interests as well as opinions to define a market segment there are 5 different factors used to define psychographic segments each of which is discussed in this article psychographic segmentation majorly takes the. Read this full essay on qantas market segmentation the airline industry has long attempted to segment the air travel market in order to effectively target i.
There is no one right way of segmenting markets a marketer has several bases available to him/her for the segmentation of markets bases for segmenting consumer markets 1 geographical segmentation segmenting markets on the basis of geography involves dividing the market into different geographical units, eg. Members come from similar geographic regions and income ranges, this does not necessarily mean that all segment members will respond in the same way to marketing stimuli (hoek, gendall and esslemont, 1996) for example, consumers with similar demographic characteristics may respond in a similar way to a change.
Customers with the same needs are placed in the same segment the advantages of the target marketing are cost effective, make pricing, distribution, which are doing and the marketing of products easier segmentation bases geographical segmentation, involves marketing of the oral-b pulsar toothbrush in a restricted. One company that uses market segmentation is bluecross blueshield association the company provides financial coverage for hospital and physicians services two variables associated with bluecross blueshield association are the use of density and geographic location bluecross blueshield. Order a custom case study on ikea the selected company for discussion is ikea group where company is renowned for their diy concept which makes them the.