What is Psychographic Segmentation? Psychographic segmentation is a market segmentation strategy that groups customers based on the factors like personality, attitude, lifestyle, social class, and interests. Psychological segmentation aims to know why and how consumers do the way they do. It seeks to understand the customers on an individual level and use personalized messages to…
What is Geographic Segmentation? Geographic segmentation is a market segmentation strategy that groups customers based on the area they live. This can be done in terms of the customer’s location, cultural preferences, time zone, climate, language, urban or rural area, etc. Geographical segmentation divides customers based on their specific geographical area and targets a specific…
What is Demographic Segmentation? Demographic segmentation is a market segmentation strategy in which customers are grouped based on factors like age, gender, marital status, income, ethnicity, occupation, etc. Instead of focusing on a broad range of customer bases, you can focus on a specific customer’s demographic factor which allows your company to better understand the…
Market Segmentation Types Market segmentation is a process of splitting or dividing a large market into its different segments or consumer groups. There are four main types of market segmentation namely demographic, behavioral, psychographic, and geographic segmentation using which you can segment the market. Demographic segmentation divides markets based on factors like consumers’ age, sex,…
What is Niche Marketing? Niche marketing is a marketing strategy that is geared toward a very specific segment of the market. Thus, it is also called concentrated marketing. Companies adopting this strategy focus on the specific target market that requires high-quality service and attention. What is Niche Market? A niche market includes a particular customer…
Differentiated Vs. Undifferentiated Marketing Differentiated and undifferentiated are two marketing strategies that most companies use to market their products and increase sales. Where differentiated marketing focuses on specific segments of the market. Whereas, undifferentiated focuses on the whole market. Let’s understand what differentiated and undifferentiated marketing is and the differences between them. What is Undifferentiated…
It is obvious that a market consists of different consumer groups who have different needs, tastes, and interests from each other. As such, a single product or marketing plan can not satisfy all the demands of those customers. This is where differentiated marketing comes into play. Let’s understand what it is. What is Differentiated Marketing?…
What is Mass Marketing? Mass marketing is a marketing strategy in which a business aims to offer the same product to the whole market and attract as many customers as possible through a single marketing program. It is also called undifferentiated marketing. Mass marketing does not divide the larger market as a segment or niche…
Market Segmentation Levels Market segmentation can be defined as the activity in which a larger market is divided into different small markets that have some common characteristics. There are five main levels of market segmentation, which are mentioned below: Mass Marketing The mass marketing level of market segmentation is the marketing in which a company…