Demographic segmentation is one of the simplest and most widest type of market segmentation used. Most companies use it to get the right population in using their products. Most companies use it to get the right population in using their products.
There are four primary categories or types of market segments. The four primary categories include geographic, behavioral, demographic and psychographic. Within each of the types of the segments fall numerous sub-categories or sub-segments as well. Market segments are primarily used in dividing customers into categories for marketing purposes.
Market segments can be viewed from two perspectives. They can be: A group of products, or service providers in an industry; A particular group of buyers; The best example is the mobile phone market, which can be used to describe either the group of companies selling mobile devices and services, or the consumers who are purchasing them.
Types of Market Segmentation Geographic Segmentation. Geographic segmentation divides the market on the basis of geography. This type of market segmentation is important for the marketers as people belonging to different regions may have different requirements.
Types of Market Segments. You can divide a market into segments in several ways. Let's take a quick look at each approach. Demographic segmentation is where a market is divided up based upon demographic differences between consumers, such as age, gender, race, and income. An example of a demographic market segment is white males between the age of 45 and 55 with gross annual incomes between $75,000 and S125,000.
Market Segmentation - Meaning, Basis and Types of Segmentation What is Segmentation ? Segmentation refers to a process of bifurcating or dividing a large unit into various small units which have more or less similar or related characteristics .