Identify and discuss different criteria of segmenting consumer markets. Using valid examples explain how different organizations may implement target market strategies

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MARKET SEGMENTATION EXPLAINED
Market segmentation is a marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another. (Definition of Market Segmentation). Below are some of the criteria can be used to identify different market segments:
i. There must be common needs within segment. ii. The market segment should be unique from other groups. iii. The market segment should have a similar response to market. iv. The market segments must be measurable in terms of both
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Background customer characteristics ii. Customer attitudes iii. Customer behaviour
The first two refer to a consumer’s inclination to certain actions that and not related to the market place. The third refers to the consumer’s behaviour while in the act of purchasing a product.
BACKGROUND CONSUMER CHARACTERISTICS FOR SEGMENTING MARKETS
Background information is not malleable, that is they do not change from one purchase situation to another, they are also customer specific. Therefore background characteristics can be classified under two main measures which are Non-marketing specific or Marketing Specific measures. These measures are concerned with the origin of why consumers act the way they do. They non-marketing specific criterion are related to marketing activity but can be used to classify a host of activities that may not be necessarily related to marketing activities. Marketing specific criterion has been developed by academics to explain purchase behaviour, and aid market segmentation.
The second measure of consumer characteristics is concerned with how the characteristics are measured. They can either be objective such as age, sex or geography or subjective such as personality and lifestyle.
Below is a table clearly showing the commonest variables in segmenting consumer markets: Objective Measures Subjective Measures
Non-marketing specific Demographics
Sex, age,

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