Chapter 2: Basic Marketing Concepts. Section 2.2 Market Segmentation. What You’ll Learn. What market segmentation is and the four methods used to segment a market The current demographic, psychographic, and geographic trends. Analyzing Markets.
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What market segmentation is and the four methods used to segment a market
The current demographic, psychographic, and geographic trends
Market Segmentation is a way of analyzing a market by specific characteristics in order to create a target market.
Involves studies of consumers based on social and psychological characteristics.
The segmentation of the market based on where people live.
Where people live is often studied in relation to age, ethnic background, and income.
Name four methods of segmenting a market.
What is the definition of demographics?
T/F: Psychographics is a way of segmenting a market.
T/F: Geographics is the process of segmenting a market based on where people live.
List an example of segmenting a market by product benefits.