There are many different ways to segment a market. The most common methods are by Demographics, Psychographics, Geographics, and Behavioral criteria.
Demographic segmentation is the process of dividing a market into groups based on shared characteristics like age, gender, income level, or education. This is the most common form of market segmentation because it’s easy to measure and target with marketing messages.
Psychographic segmentation divides consumers into groups based on their personality, values, attitudes, and lifestyles. This approach can be more difficult to measure than demographics, but it can be very useful in understanding what motivates someone to buy a product or service.
Geographic segmentation divides consumers into groups based on where they live. This can be as specific as a neighborhood or city, or as broad as a country or continent. Geographic segmentation is often used in conjunction with other methods like demographic or behavioral segmentation.
Behavioral segmentation divides consumers into groups based on their past behavior, such as purchase history, how often they use a product, or what type of product they prefer. This approach is useful in understanding how to target customers with specific marketing messages.
Marketing segmentation is a critical tool for any marketer. By understanding the different ways to segment a market, you can more effectively target your marketing messages and improve your results.