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Week 4 Marketing

Market segmentation is crucial in today's business landscape as it helps identify and cater to specific consumer needs and preferences, reflecting a shift towards customization and inclusivity. It involves various bases such as demographic, geo-demographic, psychographic, and behavioral factors to effectively target diverse consumer groups. Companies like Coca-Cola and Apple exemplify successful segmentation strategies by aligning their products with the values and lifestyles of their target audiences.

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Pyae Thinzar Mone
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43 views1 page

Week 4 Marketing

Market segmentation is crucial in today's business landscape as it helps identify and cater to specific consumer needs and preferences, reflecting a shift towards customization and inclusivity. It involves various bases such as demographic, geo-demographic, psychographic, and behavioral factors to effectively target diverse consumer groups. Companies like Coca-Cola and Apple exemplify successful segmentation strategies by aligning their products with the values and lifestyles of their target audiences.

Uploaded by

Pyae Thinzar Mone
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Why market segmentation is important in the current business market

 Find a group of target people to satisfy their needs and wants


 Dramatic shift from traditional marketing
 Huge diversity happening
 Consumer is at the top
 People are moving towards a preference for customization in product.

Cola using their name on products-show that they care their customers (millennials) switch
their target customers (inclusivity and diversity)

Demographic Base for segmentation


Age & life cycle stage
Life stage
Gender
Income
Generation
Race & Culture

Geo Demographic segmentation


Combines demographic variables and geographic variables to profile very small areas such
as suburbs
Example- bondi junction-causal food/ Asian food and products in Chatswood

Psychographic Base for segmentation


Attitudes
Interests
Beliefs

Behavioural Segmentation

Positioning

Example- Apple- Technology lover/ Fit and healthy

Sample Question
Define the theory
Use examples: Can be personal examples- can be from home countries

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