Market segmentation is integral for any brand seeking real success. For marketers, there are generally 4 key areas of market segmentation that really count:
- Demographic Segmentation
- Geographic Segmentation
- Behavioural Segmentation
- Psychographic Segmentation
This snack video gives a brief definition of each market segmentation type:
Market segmentation is the process of dividing and grouping consumers based on different characteristics and market preferences. Individuals will have diverse needs, wants, motivations and preferences, and that’s why market segmentation is such a key tool for brands and marketers today.
Each segmentation type has its own unique benefits and uses, and each will also have its drawbacks. Research has shown that combining different market segmentation types draws a wide range of precise and actionable insights.
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Finally, we’d like to hear from you. Do you use market segmentation in your strategy? Or maybe you’d like to share some of your own tips that we might have missed.
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