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Segmentation & Consumer Profiling

Learn about the importance of market segmentation and consumer profiling in target marketing. Understand how demographic, psychographic, and geographic factors impact consumer purchasing habits, and how creating customer profiles can help promote your product effectively.

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Segmentation & Consumer Profiling

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  1. Segmentation & Consumer Profiling Target Marketing

  2. As marketers and business people, we will sell our products to whomever will buy it. • However • If you’re selling retirement funds, who would you target? • If you were selling wedding dresses, who would you target? • People’s unique physical features, age, values, gender, geographic location, and any other feature which makes them unique affects their daily routine and purchasing habits • Therefore, as marketers, the more we know about our potential customers/consumers the better when can anticipate or change their buying habits

  3. Market Segments • By breaking consumers into groups with similar features or buying habits we are creating market segments • By creating this groups we are better able to research our target market and promote our product to them • Some products have only one segment, but others may have many segments

  4. Examples • One Segment: Wedding Gowns • Females, 20-35, getting married • Multiple segments: Jeans • Children • Teenagers • Adults • seniors

  5. Demographics • Demographics break consumers into categories by: • age, • Gender • Income level • Family life cycle • Each of these categories can be broken down further as well • Ie. 0-15, 16-24, 25-44, 45-64, etc

  6. Brainstorm • Marketers have to consider which products are more likely to be purchased by females, males or both • Different products based on place in family life cycle • Single, no kids • Single, with kids • Couple, no kids • Couple, with kids • Single/couple, with teenagers • Empty nesters • Why does income level matter? (low, middle, high) • Picture of class brainstorms will be posted later

  7. Psychographics • Breaking consumers down by lifestyle, values and culture • Brainstorm examples (picture to be posted later) • Example: buying Wedding Gowns varies by values • Western Culture: white gowns • Chinese: red gowns • Indian: red sarees • etc

  8. Geographic • Breaking consumer needs down based on where they live • Example: Compare the needs in Northern Ontario to Cuba (picture to be added later)

  9. Customer Profiles • When you use your marketing research to create a profile of people who buy your product to be better able to promote your product to them

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