WEEK 6 - MARKET SEGMENTATION

For week 6, our lecturer has shown a video on the topic that we will study



When watching the video, the lecturer also gives us an explanation so below is the note that we make based on our understanding. 

Looking busy everyone

C4: Market Segmentation

i. Market Segmentation 

- Dividing a market into distinct groups of buyers on the basics of needs, characteristic behaviour who might require separate products or marketing mixes.

Today, we learned about the basics of segmentation in marketing our products which are: 

• Geographic segmentation - divides the market into different geographical units such as nations, regions and states.
• Demographic segmentation - divides the market on the basis of demographic variables such as age, gender, family life cycle.
• Psychographic segmentation - divides the market based on what people think about the product. Also, it includes variables such as personality, life style and social class.
• Behaviour segmentation - divides purchasers into groups according to their reactions, responses and knowledges towards a product based on variables such as beneficial sought, brand loyalty and user status.

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