A group of customers with heterogenous needs and wants
Subgroups within the total market that are relatively similar in regards to certain characteristics
An approach to marketing based in identifying, understanding and developing an offering for those segments of the total market that the organisation can best serve
Differentiated Targeting Strategy
A marketing approach that involves developing a different marketing mix for each target market segment
A target strategy in which all marketing efforts are concentrated on offering a single product range to a number of market segments
A target marketing strategy in which all marketing efforts are focused on meeting a wide range of needs within a particular market segment
A target marketing strategy in which marketing efforts are concentrated on offering a single product to a single market segment.
Characteristics that Byers have in common and that might be closely related to their purchasing behaviour.
Market segmentation based on variables related to geography, such as climate and region.
Market segmentation based on demographic variables, which are the vital and social charactertisitcs of populations, such as age, education and income.
Market segmentation based on the psychographic variables of lifestyle, motives and personality attributes.
Market segmentation based on actual purchase and/or consumption behaviours
The way in which the market perceives an organisation, it's products and it's brands in relation to competing offerings
The total sales of a product category that all organisations in an industry are expected to sell in a specified period of time assuming a specific level of marketing activity
Total volume of sales multiplied by the average selling price
The proportion of the total market held by the organisation
Market Segment Profile
A description of the typical potential customer in the market segment; that is, a description of the common variables shared by members of market segments and how the variables differ between market segments.