Example Of Market Segmentation
A good example of market segmentation is the one utilized by the leisure and health clubs in many countries today. For instance, there is clear difference between the day-time visitors who are usually retired people, and mothers with kids, and evening customers who are often the individuals who go there after long, hectic day at the workplace. |
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These clubs often modify their services to go well with the requirements of different divisions, for instance, by facilitating crèche facilities during day time. They also charge different price rates, in accordance with the time. Usually, the rates are higher for evenings, because there is great demand at that time, and so higher usage of facilities.
The most apparent kind of segmentation is usually between the customers who purchase different product items. For instance, in making sandwiches, one could be able to differentiate between preparing sandwiches for meat-eaters and those for pure vegetarians. Some other segmentations may include purchase, selling, countries, income, loyalty, experienced drinker, beers, brands and customer behavior styles.
Geographic segmentation involves dividing the entire population into different parts, either by gender, family size, age or income group, or occupation. As far as psychographic segmentation goes, it is for the most part concerned with recognizing personality attributes and discerning traits in the group of population. The examples are outgoing or young (for sale of some new music genre), or conservative or grey (for classical music).
Lastly, behavioral segmentation looks into different customer behavior patterns, including loyalty to products or infrequent/frequent purchase. For instance, one part of marketplace may always buy a particular product, whilst another may be of individuals who frequently switch between brands.
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Example Of Market Segmentation
