Segmenting Consumer Markets

Market segmentation divides a market into well-defined slices. A market segment consists of a group of consumers who share a similar set of needs and/or profile characteristics. Common types of segmentation include demographic, geographic, behavioral, and psychographic. We discuss these types of segmentation in the following sections.

Demographic Segmentation

One reason variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, and social class are so popular with marketers is that these variables are often associated with consumer needs and wants. Another is that they’re easy to measure. Even when we describe the target market in non-demographic ...

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