{"id":1086,"date":"2022-04-10T19:47:00","date_gmt":"2022-04-10T17:47:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/segmenting-the-consumer-market\/"},"modified":"2024-03-14T16:10:43","modified_gmt":"2024-03-14T14:10:43","slug":"segmenting-the-consumer-market","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/ru\/segmenting-the-consumer-market\/","title":{"rendered":"SEGMENTING THE CONSUMER MARKET"},"content":{"rendered":"

\u00a0There is no single way to segment a consumer market. A marketer has to try different segmentation variables, singly and in combination, hoping to find an insightful way to view the market structure. In this section, we shall examine the major geographic, demographic, psychographic and behaviouristic variables used in segmenting consumer markets. In using these characteristics as bases for segmenting consumer markets, you should bear several points in mind:<\/span><\/p>\n

(i)\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Buying behaviour<\/a> is hardly traceable to only one characteristic. Hence, useful segmentation is developed by including several characteristics. At the same time, you should be careful in adding too many variables, since this may result in the <\/span>identified segments being smaller than necessary. The first characteristic to choose <\/span>should be the one that provides the clearest and most distinctive division of the market. <\/span>Others should then fol ow in the order of how well they discriminate among the <\/span>segments.<\/span><\/p>\n

(ii)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>You need to be aware of the interrelationships among these characteristics, especial y among the demographic variables. For instance, age and <\/span>income are often related. Income in turn, depends on the level of education and <\/span>occupation. Hence, for a particular product or service, the segments resulting from divisions according to income, education, and occupation may be very <\/span>similar. Whenever this occurs, it is better to use only that attribute for which the data\u00a0<\/span>are easiest to obtain.<\/span><\/p>\n

(iii) There are no rules for the number and range of categories used for most characteristics. For example, in Table 1, the first age category spans 6 years, the second category includes 7 years, the fourth cover 15 years while the last category is open-ended. Depending on the situation, it might be appropriate to use fewer or more categories or to have each category the same size. Considerable trial and error experimentation may be needed for determining the category structure that provides the best segment descriptions.<\/div>\n
\u00a0Table 1 Segmentation bases for consumer markets<\/div>\n\n\n\n
\n

Segmentation basis \u2019<\/span><\/p>\n<\/td>\n

\n

typical market segments<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Geographic: Region<\/span><\/p>\n<\/td>\n

\n

South-West middle belt North East and other census regions<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

City size<\/span><\/p>\n<\/td>\n

\n

Under 25,000; 25,001 -100,001-500,000; 500,001 -1,000,000; etc.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Urban-rural<\/span><\/p>\n<\/td>\n

\n

Urban; suburban, rural<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Climate<\/span><\/p>\n<\/td>\n

\n

Cool, warn;<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Demographic:<\/span><\/p>\n

Income<\/span><\/p>\n<\/td>\n

\n

Under 10,000; $10,000 -25,000; $25,001-$35,000;<\/span><\/p>\n

N35,001 – $50,000; over N50,000<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Age<\/span><\/p>\n<\/td>\n

\n

Under 6,6-12,13 -19,20 – 34,35-49, 50-64,65 and over<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gender<\/span><\/p>\n<\/td>\n

\n

Male, female<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Family life cycle<\/span><\/p>\n<\/td>\n

\n

Young single; young, married, no children; etc.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Social class<\/span><\/p>\n<\/td>\n

\n

Upper class, upper middle, lower middle, upper lower, etc<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Education<\/span><\/p>\n<\/td>\n

\n

Primary school, high school graduate, University graduate<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Occupation<\/span><\/p>\n<\/td>\n

\n

Professional, manager, clerical, craftsman, sales, student,<\/span><\/p>\n

Homemaker, unemployed<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Religion<\/span><\/p>\n<\/td>\n

\n

Christianity, Islamic, others<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Ethnic background<\/span><\/p>\n<\/td>\n

\n

African, Asian, European, Hispanic, Middle Eastern, etc.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Psychological:<\/span><\/p>\n

Personality<\/span><\/p>\n<\/td>\n

\n

Ambitious, self- confident, aggressive, introverted, extroverted, Sociable, etc.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Life style<\/span><\/p>\n<\/td>\n

\n

Conservative, liberal, Health and fitness oriented, adventuresome<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Psycho logic:<\/span><\/p>\n<\/td>\n

\n

VALS, VALS2, LOV<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Behavioural<\/span><\/p>\n

Benefits desired<\/span><\/p>\n<\/td>\n

\n

Examples vary widely depending on product: appliance-cost, quality, operating life; toothpaste-no cavities, plague control, bright teeth good taste and low price<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Usage rate<\/span><\/p>\n<\/td>\n

\n

Nonuser, light user, heavy user<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

\n

\n

Table of Contents<\/p>\n