Market Segmentation In Marketing

Behavioural segmentation is a marketing strategy based on actual consumer buying behaviour. It divides the market into groups of customers according to their knowledge of, attitude towards, use of or response to a product. In order to divide customers into groups marketers look at their patterns of buying and using, patterns of spending money and time, their lifestyle and other factors. (https://www.slideshare.net/monikaba5/marketing-theory-behavioural-segmentation)

Customers are segmented on the basis of the benefits sought from purchasing a specific product. For instance hair shampoo can be targeted towards normal hair, coloured hair, sensitive scalp etc. another example would be a toothpaste that customers buy to have whiter teeth or to

Segmentation will allow you to better develop and market your products because there will be a more precise match between the product and each segment's needs and wants. (http://study.com/academy/lesson/psychographic-segmentation-in-marketing-definition-examples-quiz.html).

People have different interests, attitudes, and traits. For example, some people really care about the environment, while other people don't. This is noticed by businesses such as the body shop who knew there was a market for products that weren’t tested on animals so the body shop decided to use psychographic segmentation to use their product and advertise to the people who wanted this.

The main methods of business segmentation

B2B businesses segment businesses using these techniques; Standard industrial classification codes (SIC), geographical location and the size or the

An example of an organisation that uses this strategy would be Coca-Cola. When an organisation treats the overall population as one large target market, it will create a large pool of potential customers who are willing to buy the product, after a while the large marketing potential of customers will evidently return with high sales. Organisations that aggressively promote and advertise their products attain a competitive advantage over their competitors. Other brands such as McDonalds would also have this type of strategy because they, similar to coco-cola, try to focus on what customers need and want in common and not how each customer will