Stages Of The Retail Segmentation Of Sainsbury

Demographic segmentation refers to segmenting a target market through population characteristics such as age, ethnic background, race, education, gender and income of a target market (Baack, Harris & Baack, 2013). This is important as it helps an organization to identify what markets to target and which new markets to venture into. The Jeep vehicle portfolio line includes the Jeep Wrangler, Grand Cherokee, Cherokee, Compass, Liberty, Patriot and Wrangler Unlimited and it has been established that some of the target demographics includes gender, education and

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

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.

Additionally to the Market segmentation, many retailers and businesses use the segmentation as a marketing strategy and a factor when determining such as the location of a store, or the products that are going to be sold. Some of the strategic methods that are well known and utilized by many businesses are the Geographic, Demographic, Psychographic, and the Behavioral segmentation. I will focus more on the Geographic segmentation which creates data from the consumer's zip codes, neighborhood population and household income, and much more. Overall every retailer's focus is to have a successful business, and when doing that you must know who you are targeting and undergo research about those consumers who will be purchasing your products. This

In this section, I will break down the common consumer in attempt to understand what sways him/her into purchasing certain goods—especially those that “they do not need” In addition, I will discuss how consumers determine a certain product to be “worth it”

The buying process begins when consumers recognize that they have an unmet need. This occurs when consumers realize that there is a discrepancy between their existing situation and their desired situation. Consumers can recognize needs in a variety of settings and situations. Some needs have their basis in internal stimuli such as hunger, thirst, and fatigue. Other needs have their basis in external stimuli such as advertising, window shopping, interacting with salespeople, or talking with friends and family.

Geographic segmentation involves a business dividing its market on the basis of geography. There are several ways that a market can be geographically segmented. A company may decide to operate in one or a few geographical areas or to operate in all areas but pay attention to geographical differences in needs and wants. Geographic segmentation is the most commonly used by the multi-national and global enterprises, who can change the way consumers operate in different geographic zones within them based on need their marketing mix. For example, in Japan where they don't have ovens, companies such as Betty Crocker would not focus their products in this geographic target

Defining the Demographical Segmentation according to (Marketing in Asia, 2009), it would be to base it on some objective classification attribute of prospective buyers such as physical attributes like the gender or race, measureable attributes like age or income, and other characteristics such as the birth era and occupation.

Segmentation, Targeting, Positioning and Differentiation are marketing tools which help the marketers differentiate, attract, retain and grow the customer base for their respective products.

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).

Consumer behaviour is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The emerging costumer trends play an important role in analysing the marketing opportunities. A consumer buying behaviour is influenced by cultural, social and personal factors. The consumer passes through five stages of the buying decision process: Problem Recognition, Information Search, evaluation of alternatives, purchase decision and post purchase behaviour. This model is important for anyone making marketing decision and customer pass through all stages in every purchase.

Market segmentation it may be defined as a process of dividing potential customers into certain subsets or segments having similar levels of needs or characteristics, and providing them with the products they need to satisfy them. Marketing segmentation has some benefits. In the past the mass marketing was used by the companies to achieve the economies of scale by use the same marketing channel star for all consumers. The segmentation is so important because the differentiation. In the markets helps products complete also segmentation enable the business to produce differentiate offerings on basis of features as price, packaging and styling. Segmentation leads Marks & Spencer to the success and the growth. By segmentation Marks & Spencer become

Consumer purchasing process is the stages which a buyer passes through a decision making pathway to buy a products and services (Kotler & Armstrong, 2012). It is defined as the activities that occur when decisions are made in a schematic format and reveals how different internal and external forces interact to affect how consumers think, evaluate, and act. The consumer purchasing process consists of five major stages. The five stages of consumer purchasing process are problem recognition, acquisition of information, evaluation of alternatives, purchase decision and post-purchase behaviour. Generally, consumers go through these stages when making purchasing decision. According to Blackwell, Miniard, and Engel (2012), the consumer

Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behaviour. The world is made up from billions of buyers with their own sets of needs and behaviour. Segmentation aims to match groups of purchasers with the same set of needs and buyer

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.