Market Segmentation Essay

422 Words2 Pages
Types of market segmentation Geographic segmentation Geographical segmentation is done by dividing people or markets into different geographical locations. Region: by continent, country, state, or even neighborhood. Size of metropolitan area: segmented according to size of population. Population density: often classified as urban, suburban or rural. Climate: according to weather patterns common to certain geographic regions. For example, : winter equipment are effected by geographic location you will sell more heaters in Russia than Thailand. because Thailand had no winter, temperatures are high all year round, therefore, there will not have the need for heater in Thailand. On the contrary, heater has a great market in Russia because of the clod climate in Russia. Demographic segmentation Demographic Segmentation is the most common approach to Market Segmentation, which is market segmentation based on various demographic factors such as age, gender (male/female), income, education and occupation. There are many instances where such a segmentation has worked very profitably Gender: is an obvious way to divide the market into segments since so many products are gender-specific clothing products sports products services entertainment According to psychographic segmentation, consumers can be classified into different groups. Personality: consumers personality acts an important role for them to choose favourite products. Extroverts are more willing to show themself, therefore, they may like to buy fashion products. Introverts may like to buy simple products. Creative and adventure customers may be interested in fancy products. Buying motivation. For example, some people buy clothes for keeping warm, some people are for beauty and some people for reflecting their wealth. McDonald's always pay attention to the importance of market
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