Segmentation, Demographic, Psychographic And Behavioral

1255 Words Jul 17th, 2016 6 Pages
The four criteria used in the segmentation process is geographic, demographic, psychographic and behavioral.
(1)Geographic segmentation is based on geographic location, such as region, state, or city. (2)Demographic segmentation are statistics that describe the population such as age, gender, race, ethnicity, income, education, occupation, social class, life cycle state, and house hold size. (3)Psychographic segmentation are linked closely with demographic includes lifestyles, values, attitudes, interests, and opinions. (4)Behavioral segmentation used to identify clusters of consumers who seek the same product benefits or who use or consume the product in similar fashion (Lascu & Clow, 2012).
The market is composed of consumer’s unique needs and preference. Marketers target to those consumer whose needs are most effectively met by their own offering. Marketers identify consumers who are similar with regard to key traits, such as product-related needs and wants, and who would respond well to a similar marketing mix (Lascu & Clow, 2010).
2. Discuss a company (not your marketing plan company) that you believe understands the concept of segmentation and the identification of a target market to focus their marketing efforts. What are some of the key indicators that they understand target market analysis?
I think Apple, Inc. understands the process of identifying consumers they need to focus on in the market. Apple, Inc. know how to attack market opportunities that are somewhat…
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