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Chapter 6: Customer driven trade strategy modify segmentation Segmenting consumer market places Geographic Segmentation Dividing a market into antithetical geographical units such as nations regions countries and cities * May decide to fall out to in one or more * Many companies ar choosing to localise their products, advertising and promotion and sales efforts to meet the sire hold of of individual geographical segments * specialised products withal exist- i.e.

fish in a fishermans town Demographic segmentation Dividing market into segments establish on variables such as age, sexuality family size s mell calendar method of birth control income occupation etc * close popular basis for segmentation * Consumer necessarily and wants permit been shown to set off closely with demographic status epoch and sustenance wheel around stage Dividing a market into unalike age and life cycle groups * Must be wide-awake to guard against stereotypes * season can be a despicable predictor of a persons life cycle Gender Dividing a market into distinct segments ground on gender * A neglected gender segment can offer refreshful opportunities Income Dividing a market into different income segments * Many companies target large consumers with luxury goods and devisal services * Others target the low and eye income groups * Recent globular financial crisis has provided troubles for those marketers targeting specific income groups, Many customers concur cut masking on their speding Psychographic segmentation * Div iding a market into different segments fou! nd on social class, lifestyle or character characteristics * masses in the same demographic have very different psychographic profiles * Marketers often segment their markets based on lifestyle and base their marketing strategies on lifestyle appeals * Marketers also use personality variables to segment markets Behavioural segmentation Dividing a market into segments based on consumer knowledge attitudes uses or answer to a...If you want to get a full essay, order it on our website: BestEssayCheap.com

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