Psychographic segmentation helps identify people based on the way they think & the kind of life they want to live. Demographic segmentation is one of the simplest forms of segmentation to apply to your business, but it is also the most important. For example, if you want to market Vegemite to Australians, geographic segmentation would allow you to reach people living in Australia, whereas demographic segmentation would select people who are Australian, regardless of which country they … They are:-1.Demographic Segmentation. This is the simplest form of segmentation because it is based on how people are . 3. 4. Living in metropolitan city like Mumbai exposes you to a wide competitive market in all sectors. In general, we use demographic variables as age, income, education, gender and geographic variables as 2. Segmenting Segmentation Demographic Segmentation: In demographic segmentation, the market is divided into groups on the basis of variables such as age, gender, income, occupation etc; these demographic variables are so popular with marketers so that they are often associated with the consumer’s needs and wants. Psychographic Segmentation. This approach to segmentation is dividing the market into segments based upon demographic variables, such as age, gender, life stage, family size, income, and so on. Demographic Demographic segmentation divides the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race & nationality. Geographic Segmentation Regional Preferences and Needs Exists When companies market a product by region, they must keep in the mind the regional preferences heavily in one region as compared to other regions, this type of segmentation is referred … Demographic segmentation Psychographic segmentation Behavioral segmentation Geographic segmentation Within each of these types of market segmentation, multiple sub-categories further classify audiences and customers. The segmentation variable should relate to customer’s needs for, uses of, or behavior toward the product. Segmentation according to demography is based on consumer- demographic variables such as age, income, family size, socio-economic status, etc. [43] Demographic segmentation assumes that consumers with similar [44] In market segmentation, a market is usually classified in multiple groups by geographic, demographic, psychographic and action variables. segmentation combined with demographic or geographic segmentation is much more powerful than behavioral segmentation only, because a more in depth customer profile can be created (Ferrell, 2005). This is one of the most common segmentation Demographic segmentation divides the market on the basis of demographic variables like age, gender, marital status, family size, income, religion, race, occupation, nationality, etc. If you do not yet have a list, please first read How to identify relevant variables for market segmentation. However, our focus is on the demographic segmentation, which generally involves grouping the markets into sub-categories based on demographic variables such as occupation, age, religion, nationality, gender, income, race These characteristics may include age/generation, gender, income, family size, marital status, ethnicity and nationality, education level, occupation and religion. This helps in creating groups exhibiting a similar … In market segmentation, a market is usually classified in multiple groups by geographic, demographic, psychographic and action variables. This segmentation helps organizations understand consumer behavior accurately that in turn, helps Demographic segmentation is the market segmentation strategy in which the total market is divided on the basis of customer demographics. By segmenting a market by demographic variables such as the age of the customer, gender, income, education, religion, and family life cycle, business professionals are able to create groups of … It is very easy to differentiate between men and women based on physical appearance, body gesture, voice, and outlook. Demographic Segmentation Variables Discover free flashcards, games, and test prep activities designed to help you learn about Demographic Segmentation Variables and other concepts. Demographic Segmentation Demographic Segmentation divides the market into smaller segments based on age, gender, income, occupation, generation, religion, ethnicity and education. Some common types of market segmentation variables used by companies to market their products are discussed with below examples. 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