Market Segmentation Examples

The disposable income of each parent, which is not taken from your gross income, but instead takes into account various financial considerations as well.

One of my expenses is bowling every week at Bel-Air Bowl on Saturday mornings. It costs eleven dollars a week for the school year except during the school season. My family goes to the chiropractor occasionally, and buys vitamins there. Another big expense for me is church youth group functions. Summer camp alone costs around two or three hundred dollars, and we do events through the whole year. Car repairs and maintenance is a big expense, especially recently since the car accident. We also have random expenses at Christmas and birthdays, when we buy more gifts and spend more money than normal. Random expenses may not be large in dollar amounts, but they add up

Three quarters of the U.S. population would spend essentially all of their yearly incomes to purchase consumer goods such as food, clothes, radios, and cars. These were the poor and middle class: families with incomes around, or usually less than, $2,500 a year. The bottom three quarters of the population had a total income of less than 45% of the combined national income; the top 25% of the population took in more than 55% of the national income. While the wealthy too purchased consumer goods, a family earning $100,000 could not be expected to eat 40 times more than a family that only earned $2,500 a year, or buy 40 cars, 40 radios, or 40 houses.

Single parent households are the hardest hit, often losing substantial income when one parent was a major contributor.

Demographic Segmentation fragments the market into categories according to different demographic factors, usually with regards to the wants and needs of multiple consumer groups. The

Family support: Married ten years with two children age 5 and 7, large extended family

Income level (question H16) - “We would like to know in what group your household is. Please select the appropriate number, counting all wages, salaries, pensions and other incomes that come in.” responses range from 1 (lowest income group) to 10 (highest income group).

I have first hand experience of two different families, which I am part of and observed. The first family had three children, (fourteen, sixteen, and twenty years old), two adults, and a cat. The adults have a middle class income of about $55,000 annual salary each, but they still often try to find time to go shopping with their children, even though it puts them in debt. They like to better greaten themselves and their children, but you can’t do a lot of that without money. This family has the preference to make their children happy when they can, and like to support their children with their needs and

While representing only 4% of all recent movers, lone parents with dependent children were more likely than parents in couple families with dependent children to have moved in the last five years (59% compared with 45%). it’s these people who are most likely to have limited funds, and the parents when moving have the greatest amount of difficulty as both the logistics of the move and the costs fall back onto a single individual sondier that around one-fifth (21%) of lone parents who had recently moved cited the breakdown of their marriage or relationship as a reason for their move. The relatively high mobility rates of lone parents is also associated with the higher likelihood of being private renters (42%). this can be assumed that due to the uncertainty of their circumstances, a piravte rentals offer the most amount of

The family went grocery shopping this week and the price came out to $236.14. As they go shopping every week, they spend $1,062.63 on a monthly basis. They buy the regular items that any other family would have; dairy, meats, grains, vegetables, and fruits. The family also eats out at a restaurant once every week. The Les’s say they need to spend a little less at the store, so they often use coupons.

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

(B) We used a combination of three market segmentation variables using two different approaches. We chose these variables because we feel that they are the best choices for differentiating between market segments. The first thing we did was use the Geographic approach to limit our scope. Using the Regional variable to divide Canada into provinces, we decided to limit our market to that of Newfoundland and Labrador; as a new start-up, it makes sense to begin small with a familiar market with the potential for growth. Then, using Market Density, we determined that since almost 40% of Newfoundland and Labrador’s population lives in St. John’s (196,965 out of 514,540), we would limit our market to that of the Avalon Peninsula, with potential for

Market segmentation is usually regarded as one of the main elements of marketing, with benefit segmentation commonly referred to as the most meaningful form of segmentation. Even though the importance of segmentation is broadly accepted, limited research, do exist about cosmetic medical products (Mohr, Sengupta, & Slater 2010, 79). There are very few real examples of segmentation studies available. This article has focused on Johnson and Johnson products marketing strategy globally. The spread of global culture is normally facilitated by the rise of global capitalism, the proliferation of transitional corporations, homogenization of global consumption, and widespread aspiration for material possessions. International market researchers have discussed the breadth of convergence of cultural values across countries.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.

The process of communicating the value of a product or service to customers, for the main purpose of selling that product or service is known as marketing. The science of choosing target markets through market segmentation and analysis, and understanding consumer behavior while providing superior customer value to the customers is termed as Marketing Management. It can be looked at as one of the most important of the organizational functions and a set of processes for creating, communicating and delivering the value to their customers or potential customers, and a customer relationship management that benefits the organization in a variety of ways.