Answer to Question #223848 in Management for Cebo

Question

1. Discuss the concept ‘Market segmentation’, including the types of segments.

May i have an explanation thay is worth (10 marks)

Answer 1

Market segmentation can be described as the process of subdividing a large consumer market into smaller sections based on some shared characteristics observed in the consumers.

Demographic segmentation is division based on consumer characteristics such as age and sex. Behavioural segmentation is division based on consumer behaviors. Geographical segmentation is division based on consumers physical location. Physchographical segmentation is based on emotional and mental characteristics of consumers