Segmentation Benetton

In the Marketing Segmenting there are four kind of segmentation, they are Behavioral Segmentation, Demographic Segmentation, Psychographic Segmentation, and Geographic

This also seems to be true for the different countries. Therefore, we conclude that the most relevant variable for segmentation is the price. Based upon Exhibit 4, we conduct the following five price segments:

International market segmentation is the dividing of market into segments, this allow marketers to effectively determine whether business can thrive in a particular area. Segmentation is based on four factor namely geographical, psychographic, demographic and lastly behavioral segmentation. Geographical segmentation refers to grouping markets geographically such as nations, states or cities. Psychographic segmentation is the dividing of buyers into groups based on lifestyle or social class/status. Demographic segmentation uses factors like age, gender, occupation and etc to separate markets into groups. Last but not least, behavioral segmentation, this kind of segmentation divides buyer into groups by their knowledge about particular

Dividing the market into different geographical units such as nations, states, regions, cities or neighbourhoods.

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

It is only fair that each segment is explained briefly. Geographical segmentation is where the market is divided into different geographical units. For example, nations, regions, states, countries, cities and sometimes even neighbourhoods. Demographical segmentation divides markets based on age, life-cycle stage, gender, income, occupation and other factors. Moving on, Behavioural segmentation is where by factors like occasions, benefits, user status, and usage rate and loyalty status and last but not least, Psychographic segmentation. This segmentation variable is where the market is divided into segments like social class, lifestyle and personality.

Segmentation allows the firm to better satisfy the needs of its potential costumer (NET MBA Business Knowledge). That's why , market segment is one of the important marketing process which helps to identify the market and dividing different group and sub-group. These types of group have different desire, needs, and behaviors which are may be potential consumer behaviors. The market segmentation is the process of research of the market to identify the market competitors. To earn the high profit after investment , Market segmentation should be applicable to sell the product in different market. H&M also segment the market in different continent like Asia and Oceania , Europe , North and South America. H&M is focused on domestic costumer as well as Nordic and International costumer with their needs better than the competion. (H&M, Annual Report ,

Behavior segmentation concentrates on whether on consumers buys or uses a product, along with how frequent or how much they use or consume. For example, Christmas, buying on occasion is a behavior segmentation. Benefit segmentation divides the market up based on a perceived value. An example of this is the food markers. They are creating inexpensive, nutritious meals that benefit families. Demographic segments divide the market per race, age, religion, gender, income, family size, ethnicity and income. For example, as a consumer ages their needs and wants change. Ethnic segmentation designs and advertise to a certain race or culture. An example would be companies based in Mexico are moving north to the United States because of the growing population of Hispanics in the United States. Psychographic segmentation divides the market based on personality traits, attitudes, values, life styles and interest. Marketing survey would be an example of

Geographic segmentation is when you focus on a group of consumers due to their location (Baines and Fill, 2014) and is important for this particular product, as it is only available in a few

There are four criteria that have to be satisfied in order for market segmentation to be effective. A market segment should be identifiable, substantial, accessible and stable. Identifiable, at which there should

A the differences between countries in the structure of marketing segments, and the existence of segments

What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).

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.

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first

‘Market segmentation represents an effort to identify and catergorise groups of customers and countries according to common characteristics’ (Keegan and Green 2016, p.228). For any business, it is crucial that they segment their market accordingly or they will risk forgoing sales opportunities. Fahy and Jobber (2015) identify the objective of market segmentation as distinguishing groups of customers with similar requirements so