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region of the world or country, East, West, South, North, Central, coastal, hilly, etc.
country size/country size : Metropolitan Cities, small cities, towns.
Density of Area Urban, Semi-urban, Rural.
climate Hot, Cold, Humid, Rainy.
Segmentation Criteria Geographic Demographic Age, gender, family size and life cycle, or income Psychographic Social class, lifestyle, or personality Behavioral Occasions, benefits, uses, or responses Nations, states, regions or cities
Determine the characteristics of segments in the target market & separate these segments in the market based on these characteristics.
Verify the market segments size if adequate enough to support the organization's product.
Develop a marketing strategy to target this market.
Market Segmentation Process 1. Identify Bases for Segmenting the Market 2. Develop Profiles of Resulting Segments 3. Develop Measures of Segment Attractiveness 4. Select Target Segment(s) 5. Develop Positioning for Each Target Segment 6. Develop Marketing Mix for Each Target Segment Market Positioning Market Targeting Market Segmentation
Levels of Segmentation Mass Marketing Same product to all consumers (no segmentation) Segment Marketing Different products to one or more segments (some segmentation) Micromarketing Products to suit the tastes of individuals or locations (complete segmentation) Niche Marketing Different products to subgroups within segments ( more segmentation)