A person, group of people or buisiness that have needs and desires as weel as the capacity an will to make a purchase to satisfy those needs and/or desires.
In marketing to furthermeet your goals, it’s important to get to know the market and divide it in segments.
The process of dividing the market into subgroups with similar tastes or needs is calledMarket Segmentation; I’s purpouse is to facilitate the adjustmen of the marketing mix towards the needs of those for whom it’s aimed for.
A successful segmentation divides for 3 basic reasons:To identify groups with similar tastes and behavior.
To obtain valuable information used for the design of a marketing mix that is customized to certain specific needs.
To bettersatisfy needs and desires.
Profitability: a segment must be large enough to justify the development, creation and maintenance of specific Marketing Mix.Identification and measurement: segments must possess this qualities so they can be considered a group.
Geographic limits, age group and other demographics are useful data for propersegmentation.
Accessibility: a business must be able to reach the target market. some difficult markets include: the elderly, people with langue barriers.
Ability to respond: if the segmentis not able to respond to the specific mix created for them, then there is no justification for it’s existence. How to create segments
Demographic segmentation: this characteristics arerelatively easy to obtain are strongly related with purchase and consumption behavior.
Psychographic segmentation: just asdemographic sustain the base for segmentation, psychographic factors add the details.
Personality: habits and attitudes.
Motive: motivations for purchase.
Lifestyle: how they live...