Market segmentation

market segmentation

Dividing a market into distinct groups of buyers who have different needs, characteristics

income

Money received

market segment

a group of consumers with similar characteristics and preferences

Location

a place or position

Target Market

a set of buyers sharing common needs or characteristics that the company decides to serve

Mass Marketing

developing products and promotions to please large groups of people

segmented

divided into parts

Gaps in the market

groups of consumers whose needs and wants are unmet

appeal to consumers

liked by consumers

Gender

male or female

Niche Marketing

marketing strategies used for small specialised consumer market.

lifestyle segmentation

segmentation that divides people into groups based on their opinions and the interests and activities they pursue

socio-economic groups

upper, middle or lower social classes