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Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Market segmentation is the process of dividing a total available market, using one of a number of key bases for segmenting such as demographic, geographic, psychographic, behavioural or needs-based segments. For example, a demographic segmentation of the adult male population might yield the segments, Men 18-24; Men 25-39, Men 40-59 and Men 60+.
Demographic targeting is a form of behavioral advertising in which advertisers target online advertisements at consumers based on demographic information. [1]They are able to achieve this by using existing information from sources such as browser history, previous searches as well as information provided by the users themselves to create demographic profiles of consumers.
Claritas PRIZM Premier is a set of geo-demographic segments for the United States, developed by Claritas Inc., which was owned under The Nielsen Company umbrella from 2009 to 2016. PRIZM (Potential Rating Index for Zip Markets) Premier combines demographics, consumer behavior and geographic data for marketers.
Firmographics (also known as emporographics or firm demographics) are sets of characteristics to segment prospect organizations. [1] What demographics are to people, firmographics are to organizations. However, Webster (2005) suggested that the term "firmographics" is a combination of demographics and geographics.
Micro-segmentation on the other hand requires a higher degree of knowledge. While macro-segmentation put the business into broad categories, helping a general product strategy, micro-segmentation is essential for the implementation of the concept. “Micro-segments are homogeneous groups of buyers within the macro-segments” (Webster, 2003).
VALS (Values and Lifestyle Survey) [1] is a proprietary research methodology used for psychographic market segmentation. Market segmentation is designed to guide companies in tailoring their products and services in order to appeal to the people most likely to purchase them.
In marketing, geodemographic segmentation is a multivariate statistical classification technique for discovering whether the individuals of a population fall into different groups by making quantitative comparisons of multiple characteristics with the assumption that the differences within any group should be less than the differences between ...