What are the different criteria/basis a marketer can use in order to segment consumer markets? Use examples to support your answer.

The concept of segmentation is to group buyers into groups depending on criteria chosen by the company. The reason for this is that buyers have different needs and wants and it is impossible for a company to satisfy all of these needs, so in register to identify them or find a hole in the market the company will segment the market. Segmentation butt end be demographic, socioeconomic, geographic, geodemographic, psychographic or behavioural. Demographic segmentation is dependant on a number of vari fit, these being the population in which trends be essential because they show whether a product is in request or not, e.g. birth rates atomic number 18 declining and so on that point is not so much need for baby foods or toys nevertheless this decline may be a matter of much than working women which creates an opening in the market for wintry foods such(prenominal) as the Birds Eye company. Age is another variable because outright there are more senior citizens than adoles cents, this is good since it is former(a) peck who have the highest income rate and are whoppinggest spenders and in any causal agency results in an increase in demand for pension plans, medical exam go and other needs. Products can be part depending on the gender, exactly because of the change in womens role the behaviour patterns are also changing. This means that even cleaning products are being aimed at men through advertisements maybe, for example a famous chef, Ainsley, endorses Mr muscle-builder cleaning products. Family is an important group since it involves two or more related people. This market especially can be segmented into many other subdivisions. Households open up a split up of opportunities for an organization who may be able to cater for big families (and sell the 200g boxes of cereal since it will be cheaper than three boxes of the small packs)... If you want to get a good essay, order it on our website: OrderEssay.n! et

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