Segmenting a Consumer Market
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Question
Segmentation offers multiple benefits for the company as consumers’ needs are explored in depth. Segmentation may be based on different variables/criteria. Press and Simms (2010), for example, present a benefit segmentation analysis of tooth whitening services. Khoo-Lattimore and Prayag (2015) offer several segmentation examples from the travel industry.
Address the following issues/questions:
- Critically evaluate two variables/criteria that are often used in consumer segmentation.
- Segment a market of your choice and describe the derived groups (the segmentation should be theoretical and should be based on secondary sources and your personal and professional experience—no data collection is needed).
- In formulating your Key Concept Exercise, consider the following questions:
- What are the criteria/variables used for segmenting consumer markets?
- What segmentation tools can you apply in a consumer market?
Summary: This question belongs to marketing and discusses about segmentation and to evaluate variables used in consumer segmentation.
Total word count: 630
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