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Primarily found in rural areas these families enjoy the outdoors. Despite their age, they are below average in their use of technology. 52 - Simple Pleasures: Many of its residents are over the age of 65 years old and mostly retired. Many are high school-educated seniors who held blue-collar jobs before their retirement. 53 - Lo-Tech Singles:
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+.
Segmentation type Advantages Disadvantages Demographic and socioeconomic segmentation groups people by gender, age, ethnicity, income, education, geography and other physical or situational characteristics. Easy to identify and target consumer groups, such as millennials, Hispanics, or women 25 to 35 years old.
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 ...
Audience segmentation strategy is driven by the goal of developing criteria that can be used to form homogeneous clusters. The most common criteria used are demographics (age, level of education, income, ethnicity and gender) and geography (region, county, census tract).
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.
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.
Direct segmentation: seller conditions price on some attribute (e.g., age or gender) that directly segments the buyers; Indirect segmentation: seller relies on some proxy (e.g., package size, usage quantity, coupon) to structure a choice that indirectly segments the buyers; Uniform pricing: seller sets a single price for each unit of the product.