Marketing Segementation

Benefit segmentation divides markets into groups based on the product benefits sought by consumers

Geographic segmentation divides markets into units like nations, states, regions, counties, cities, or neighborhoods

In market segmentation the 'one-size-fits-all' approach is often the most effective strategy for maximizing market reach

Psychographic segmentation divides the market based on social class, lifestyle, or personality characteristics.

Market segmentation is only useful for large corporations and has little application for small businesses.

Demographic segmentation, including age and life-cycle, is still relevant in modern marketing

Behavioral segmentation is based not only on product benefits but also on usage rate and loyalty

In market segmentation, 'differentiable' means segments are distinct and respond uniquely to marketing mix

Market segmentation and target marketing are essentially the same concepts and can be used interchangeably.

A successful market segment must be measurable, accessible, substantial, differentiable, and actionable.