What are the criteria of segmentation?
Regardless of your approach, a useful segmentation should include these six characteristics:
- Identifiable. You should be able to identify customers in each segment and measure their characteristics, like demographics or usage behavior.
What are segmentation examples?
Common examples of market segmentation include geographic, demographic, psychographic, and behavioral. Companies that understand market segments can prove themselves to be effective marketers while earning a greater return on their investments.
What criteria are used to select target markets?
Target Marketing Following are 5 criteria that indicate whether you have selected a viable target market: size, expected growth, competitive position, cost to reach, and compatibility.
What is demographic segmentation give example?
Demographic segmentation refers to the categorization of consumers into segments based on their demographic characteristics. This includes variables such as age, gender, income, education, religion, nationality etc.
What are the criteria for effective segmentation?
Types of Segmentation. Many companies incorporate a predictive model into the segmentation study to group individuals based on specific answers to survey questions.
What are the 4 bases of segmentation?
– Age – Gender – Ethnicity – Income – Occupation – Religion – Social class – Nationality
What is the basis of segmentation?
The basis of the segmentation is age, sex, education, income, occupation, marital status, family size, family life cycle, religion, nationality and social class. All these variables are either used as a single factor or in combination to segment the market.
What are the objectives of segmentation analysis?
Territorial or Graphic Segmentation. We can divide a country into two distinct reasons rural Markets and urban market.