demographic segmentation

Examples of demographic segmentation in the following topics:

• Determining Segmentation Variable(s)

  • Markets can be segmented primarily according to geographic, demographic, usage, and psychological segments--or a combination of the above.
  • As noted, religion is an interesting basis for demographic segmentation.
  • Demographics can be used to help companies develop products that meet current and future consumer needs.
  • Segmentation should recognize psychological as well as demographic influences.
  • Measurements of demographic, personality, and attitudinal variables are convenient measurements of less conspicuous motivational factors.

• Developing a Market Segmentation

  • A market segmentation is developed based on one of two strategies and several consumer identifying characteristics like demographics and behavior.
  • In the multi-segment strategy, a company focuses its marketing efforts on two or more distinct market segments.
  • The geo-cluster approach combines demographic data with geographic data to create a more accurate profile of a specific consumer.
  • Demographic segmentation variables are among the most popular bases for segmenting customer groups because customer wants are closely linked to variables such as income and age and because there is a plethora of demographic data available.
  • Foreigners within the same demographic group can exhibit very different psychographic profiles.

• Demographics

  • Marketers must understand the different demographic groupings that exist and the demographic changes that are constantly occurring.
  • Demographics describe the observable characteristics of individuals living in the culture.
  • It is important that marketers understand the demographic segment that they are focusing on.
  • The long-term trend of high growth in nontraditional types of households and lack of growth among married couples can only mean further segmentation of an already segmented marketplace.
  • Identify common demographic traits used by marketers and demographic changes in the current marketplace

• Demographics of New Markets

  • A demographic profile (often shortened to a "demographic") is a term used in marketing and broadcasting to describe a demographic grouping or a market segment.
  • Researchers typically have two objectives in this regard: first, to determine what segments or subgroups exist in the overall population; and second, to create a clear and complete picture of the characteristics displayed by typical members of each segment.
  • After evaluating the demographic information, determining what segment or subgroup exists within the population, recommendations are made to change, increase, decrease or expand on the type of goods or services offered.
  • Marketers data may alter the way or where a product or service is sold in order to reach a market segment that has the most potential as buyers.
  • Demographics can be measured in a variety of ways.

• Identifying the Target Market

  • Demographic or socioeconomic segmentation (gender, age, income, occupation, education, household size, and stage in the family life cycle)
  • In addition to the above segmentations, market researchers have advocated a needs-based market segmentation approach to identify smaller and better defined target groups.
  • Identify clusters of similar needs - Demographics, lifestyle, usage behavior and pattern is used to differentiate between segments.
  • Test the segments - A segment storyboard is created to test the attractiveness of each segment's positioning strategy.
  • Modify marketing mix - The segment positioning strategy is expanded to include all aspects of the marketing mix.

• Target Market Characteristics

  • The different characteristics of a target market are geographic, demographic, psychographic, behavioral, and product related.
  • The different characteristics of a target market are geographic, demographic, psychographic, behavioral, and product related.
  • Irish Spring would focus on a male demographic.
  • For example, the televisions station G4 is aimed at men but also gamers in the age 16-34 demographic.
  • Product related segmentation describes a target approach for customers who already own a specific product.

• Defining Consumers

  • A consumer can be a person (or group of people), generally categorized as an end user or target demographic for a product, good, or service.
  • Markets segmented for strategic targets (markets segmented by strategy and product characteristics, and hence by characteristics of the buyer)
  • Now, there is a trend in marketing to individualize the concept of "A Consumer. " Rather than generating broad demographic profiles and psycho-graphic profiles of market segments (which has been the norm), marketers are now starting to engage in personalized marketing, permission marketing, and mass customization.

• Measuring a Successful Segmentation

  • Red Bull has been an enormous hit with its target youth segment across the globe.
  • The market segment must be stable enough that it does not vanish after some time
  • The market segment is internally homogeneous (potential customers in the same segment prefer the same product qualities)
  • The market segment is externally heterogeneous, that is, potential customers from different segments have different quality preferences.
  • This process made for a much better user experience for eHarmony's target demographic in several ways.

• Databases

  • In market research, databases contain information that is collected, aggregated, and used to define segments of homogeneous consumers.
  • In market research, a database contains information that is collected, aggregated, and used to define segments of homogeneous consumers.
  • This customer information oftentimes includes, but is not limited to, a variety of data, including name and address, history of shopping and purchases, demographics, and brand and product consumption.
  • Database research is considered an extremely helpful tool in market segmentation research.
  • The resulting list can be merged with another list of women who are Hispanic and African American to further target this niche demographic.

• Stimulating Demand

  • For the most part, the research in motivation involves benefit segmentation and patronage motives.
  • Benefit segmentation may include consumer labels such as price-conscious, convenience-oriented, service-oriented, or other motivation features.
  • Lifestyle segmentation is one tool used by brands to connect their value proposition to the needs of particular individuals rather than large, undefined demographics.
  • Discuss the psychological factors that drive consumer demand, and how they play into marketing segmentation