Consumer segmentation is the process of splitting customers, or potential customers, within a market into different groups or segments, within which customers have the same or similar requirements. The reason one segments is to recognise consumer's differences which is key to successful marketing. It can lead to niche marketing, which in turn can lead to segement dominance (something often not possible in the whole market).
Researching and understanding the consumer is central to marketing and promotion.. recognizing the requirements of the customer is essential for those tasked with creating, selling and promoting fashion products.. The type of segmentation is based on three factors: Demographic, Behavioural and Attitudinal / Psychographic. Demographic = age, income, gender etc, Behavioural = usage, need and occasion and Attitudinal / Psychographic = value systems, beliefs and lifestyle.
Market research companies often create acronyms to describe segments, such as: DINKYs - Double Income No Kids Yet and NEETs - Not in Employment, Education or Training. By this, from recognising consumers' differences is the key to successful marketing. It can lead to niche marketing, which in turn can lead to segment dominance (something often not possible in the whole market).
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