What Is Major Bases For Segmenting Consumer And Business Markets?


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amber Jhon answered
The bases for segmenting consumer and business markets include demographics, geographic, psychographics and behavioral factors. It is not necessary that an organization has to use all of the bases in segementation but anyone of them or a combination of two or three can be used. For example, a company can segment the consumers on the basis of their age, income level or on gender basis. This is known as demographics of consumers. If a company segements the market on the basis of the internal drivers of customer behavior and their patterns of thinking then it is known as psycograhical factors of segmentation. In geographical bases, the market segmentation is achieved on the basis of region and areas. Moreover, if segmentation is done on the basis of behavioral factors then the attitudes of the consumers are explored.

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