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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 ...
Psychographic segmentation has been used in marketing research as a form of market segmentation which divides consumers into sub-groups based on shared psychological characteristics, including subconscious or conscious beliefs, motivations, and priorities to explain, and predict consumer behavior. [1]
Attitudinal targeting is a type of market segmentation that layers objective research findings, typically from surveys or focus groups, into other targeting segmentation criteria. Attitudinal research typically gather qualitative methods to better understand consumer's feelings and thoughts.
For example, VALS is a proprietary framework created by Strategic Business Insights that separates US adults into eight distinct types by evaluating their motivations and resources to understand anticipated consumer behavior. [7] Psychographics is often used for market segmentation and improved target marketing. [8]
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.
Audience segmentation is widely accepted as a fundamental strategy in communication campaigns to influence health and social change. [4] Audience segmentation makes campaign efforts more effective when messages are tailored to the distinct subgroups and more efficient when the target audience is selected based on their susceptibility and ...
For example, under behavioral targeting, if a user is known to have recently visited several automotive shopping and comparison sites based on the data recorded by cookies stored on the user's computer, the user can then be served automotive-related advertisements when visiting other sites.
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+.