How do marketers segment the market?

The two major segmentation strategies followed by marketing organizations are concentration strategy and multi- segment strategy. Segmentation of a market to reach a target consumer base can be done by defining consumers in terms of geographic, demographic, psychographic, and behavioral characteristics.

Who are the specific members of the target segment that will participate in the research?

Demographic.

• Gender.
• Age.
• Marital status.
• Family size.
• Ethnic/racial background.
• Income.
• Education.
• Religion.

What is market segmentation How is the practice of market segmentation related to the marketing concept?

How is the practice of market segmentation related to the marketing concept? Market segmentation is the process of dividing a potential market into distinct subsets of consumers with common needs or characteristics and selecting one or more segments to target with a distinct marketing mix.

Which factors should the marketer consider when forming market segments?

Which factors should the marketer consider when forming market segments? Potential for increase profit. Difference of needs of buyers among segments. Potential of a marketing action to reach a segment.

What are the segmentation variables in marketing?

The factors which are be used to segment a market are the segmentation variables. Common variables include demographic, geographic, psychographics and behavioural considerations. Quantifiable population characteristics, such as age, gender, income, education, family situation. The physical location or region.

How do you target market segmentation?

Here are some tips to help you define your target market.

1. Look at your current customer base.
2. Check out your competition.
3. Analyze your product/service.
4. Choose specific demographics to target.
5. Consider the psychographics of your target.
6. Evaluate your decision.
7. Additional resources.

Which factors should the marketer consider when forming market segments quizlet?

Terms in this set (6)

• Simplicity and cost-effectiveness of assigning potential buyers to segments.
• Potential for increased profit.
• difference of needs of buyers among segments.
• potential of a marketing action to reach a segment.