10 Facts About Market segments

Market segmentation assumes that different market segments require different marketing programs – that is, different offers, prices, promotion, distribution, or some combination of marketing variables.

That is, a market is segmented, one or more segments are selected for targeting, and products or services are positioned in a way that resonates with the selected target market or markets.

Market segments segmentation is the process of dividing up mass markets into groups with similar needs and wants.

Sugars marketed to consumers appeal to different usage segments – refined sugar is primarily for use on the table, while caster sugar and icing sugar are primarily designed for use in home-baked goods.

That is, the Market segments are developed for individual products at a specific time.

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The Market segments identified in this study were the naturalists, pure excitement seekers, escapists.

An example of attitudinal segmentation comes from the UK's Department of Environment which segmented the British population into six Market segments, based on attitudes that drive behaviour relating to environmental protection:.

Cultural segmentation can be combined with other bases, especially geographics so that Market segments are mapped according to state, region, suburb, and neighborhood.

Online market segmentation is similar to the traditional approaches in that the segments should be identifiable, substantial, accessible, stable, differentiable, and actionable.

Figure alongside illustrates how Market segments might be formed using clustering; however, note that this diagram only uses two variables, while in practice clustering employs a large number of variables.