Explore > Market Segmentation
Why
The information about potential target markets and customer segments helps to identify the pros/cons and personalize the marketing campaigns accordingly. It helps marketers to be efficient and minimize the risk of unsuccessful and ineffective marketing campaigns.
How
The four types of market segmentations.
- Demographic segmentation
- Demographic segmentation is one of the most popular and commonly used types of market segmentation. It refers to statistical data about a group of people. E.g., Age, Gender, Income, Location
- Psychographic segmentation
- Psychographic segmentation categorizes audiences and customers by factors that relate to their personalities and characteristics. E.g., Personal traits, Values, Attitudes, Interests, Lifestyle
- Behavioral segmentation
- Behavioral segmentation focuses on how the customer acts. E.g., Purchasing habits, Spending habits, User status
- Geographic segmentation
- Geographic segmentation is the simplest type of market segmentation. It categorizes customers based on geographic borders. E.g., Country, City, Urban/Rural