Market segmentation is the process
which divides the complete market set up
into smaller subsets comprising of
consumers with a similar taste, demand
Bases for Segmentation
It refers to ethnicity, gender, age, religion,
income and family size.
If you segment your market geographically,
you look at regional characteristics,
population density and sometimes even
climate as common influences on your
A market can be segmented according to
behavioral characteristics. These include
the loyalty to a brand, rate of usage and
purchases brought on by holidays and
An audience that's segmented
psychographically may share lifestyle
variables such as opinions, values, activities
Q. How it is related to marketing concept?
Market Segmentation helps the marketers to devise
appropriate marketing strategies and promotional
schemes according to the tastes of the individuals of
a particular market segment.
Organizations can reach a wider audience and
promote their products more effectively.
The segmentation process goes a long way in
influencing the buying decision of the consumers.
Market segmentation helps the organizations to
target the right product to the right customers at the