Propose segmentation criteria to be used for products in different markets (give Examples)?

Markets can be segmented (or divided) into hundreds of different categories. Usually the type of marketing segmentation used would depend on the product however regardless of the product there are some that generally remain popular. These include:

• Geographic location

This is a very important segment as geographic location can tell a great deal about a person or group. From geographic locations you can tell whether people are more likely to buy ice cream or soup; whether they are more likely to have a fireplace or swimming pool installed; whether they would buy a magazine written in English or Spanish or if they would be interested in purchasing sun umbrellas.

• Socioeconomic background

It is slightly more difficult to generalize with socioeconomic background as attitude and personality across groups can vary massively. However, you know that a top end clothing store would do less well in a working class area than it would in an expensive area of London or New York for example.

• Age

The age of a target market is very important. A product should be designed with some age range in mind so that marketing campaigns can be targeted accordingly. Producing a brand new state of the art scooter and then advertising it in a SAGA newsletter would not work, whereas advertising it on TV between kids programs would work.

These are a few examples of how markets can be segmented, however there are many other options too. You can find out about these in textbooks or websites about marketing strategies.