Demographic segmentation – grouping customers by identifiable non-character traits like age, gender, or income. … Geographic segmentation –
grouping customers with regards to their physical location
.
What is the demographic segmentation?
Demographic segmentation refers to
the categorization of the target market based on specific variables like age, education, and gender
. It is a type of market segmentation that helps businesses to understand their consumers better and meet their needs, effectively.
What is meant by demographic and Geographic segmentation?
Demographic segmentation refers to
grouping customers together by focusing on certain traits
such as gender, age, income, ethnicity, occupation, and family status, while geographic segmentation refers to grouping your customers based on the region on their geographic location.
What is the difference between demographics and segmentation?
The five main demographic segments are age, gender, occupation, cultural background, and family status. What is the difference between geographic and demographic segmentation? Geographic segmentation looks only at the physical location of a prospect, whereas demographic
segmentation looks at specific traits
.
What is an example of demographic segmentation?
Income. Income demographic segmentation is when people are segmented by their monthly or yearly income. You can segment based on personal income or household income. … A good example of this type of segmentation is
Mercedes
.
What is geographic segmentation example?
An example of geographic segmentation is
an ice cream company segmenting
a country by how hot different regions are and targeting those specific areas that are hottest and therefore more likely to buy ice cream.
What are 4 examples of demographics?
Demographic information examples include:
age, race, ethnicity, gender, marital status, income, education, and employment
.
What are the 6 types of demographics?
- Age.
- Gender.
- Occupation.
- Income.
- Family status.
- Education.
What are the advantages of geographic segmentation?
Geographic segmentation allows
small businesses with limited budgets to be more cost effective
. The findings that result from geographic segmentation allow small businesses to focus their marketing efforts specifically on their defined area of interest, therefore avoiding inefficient spending.
What are the 4 types of market segmentation?
Demographic, psychographic, behavioral and geographic segmentation
are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types. Here are several more methods you may want to look into.
Why demographic segmentation is the most common type of segmentation?
Demographic segmentation divides the market into smaller categories based on demographic factors, such as age, gender, and income. … This customer segmentation method is one of the most commonly used because
it’s easy to acquire through census data, analytics software, consumer insights, and more
.
What are the 5 market segments?
Five ways to segment markets include
demographic, psychographic, behavioral, geographic, and firmographic segmentation
.
What are the advantages of demography?
Demography
provides very specific information about different populations such as their age, gender, family status, race, income and social class
. Using this data, a company can drill down into its ideal customers groups.
What are the 6 market segments?
This is everything you need to know about the 6 types of market segmentation:
demographic, geographic, psychographic, behavioural, needs-based and transactional
.
What is an example of behavioral segmentation?
As mentioned in the above example,
buying on occasions
is the first form of behavioral segmentation. Products such as chocolates and premium foods will sell on festivals. Similarly, confectioneries will sell when there is a party. Thus these products are generally targeted by behavioral segmentation.
What does Geographic mean in marketing?
Geographic segmentation is
a component that competently complements a marketing strategy to target products or services on the basis of where their consumers reside
. Division in terms of countries, states, regions, cities, colleges or Areas is done to understand the audience and market a product/service accordingly.
