Market Segmentation

Market Segmentation

1. Geographic segmentation

   • Different customer groups are likely to have different needs depending on where they live

2. Demographic Segmentation

   • Age
   • Gender
   • Income
   • Social class
   • Religion
   • Ethnicity

3. Benefit of market segmentation

   • Avoid wasting promotional resources by targeting the wrong customers
   • Increase revenue by produce different products for different market segment.
   • some businesses can market a wider range of goods to different customer groups.

4. Market can be divided into different sections or segment. it can be more easily supply products that meet customers's needs

5. Mass and niche markets

   • Mass markets: when business sell the same product to all customers and markets them in the same way. the numbers of customers are huge, the business sell large quantity in a lower unit costs