Anatomy of a Customer
Understanding who’s who among your clientele is called market segmentation — the process of breaking down your customers into segments that share distinct similarities.
Here are some common market segmentation terms and what they mean:
Geographics: Segmenting customers by their physical locations to determine the regions, counties, states, countries, zip codes, and census tracts where current and therefore likely prospective customers live.
Demographics: Segmenting customers into groups based on factors such as age, sex, race, religion, education, marital status, income, and household size.
Psychographics: Segmenting customers by lifestyle characteristics, behavioral and purchasing patterns, beliefs, values, and attitudes about themselves, their families, and society.
Geodemographics: A combination of geographics, demographics, and psychographics. Geodemographics, also called cluster marketing or lifestyle marketing, is based on the age-old idea that birds of a ...
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