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What is market Segmentation? How is the practice of market segmentation related to the marketing concept?


Market segmentation is basically dividing your market into groups on the basis of whatever parameters you choose: age, gender, geographic location, income, marital status, buying habits, cultural considerations, etc.

Such segmentation may lead to creating different ads or concepts for each market segment. For example, let’s say you market Deodorant. The concepts you develop to reach young adult men may differ from the concepts you develop to reach women. That’s why the commercials produced for TAG look markedly different than the ones produced for SECRET.

Another example of market segmentation at work (or the lack of it): several years ago, Chevrolet introduced the Chevy Nova to Mexico/Latin America. Chevrolet failed to take into account that the word "Nova" translated into Spanish as "no va," which means "no go." Not a very smart way to promote an automobile.

Cultural considerations are another of the parameters that can be used to segment a target audience.

This entry was posted on Sunday, July 5th, 2009 at 7:30 am and is filed under market segmentation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “What is market Segmentation? How is the practice of market segmentation related to the marketing concept?”

  1. endorphin_boy415 on July 5th, 2009 at 1:09 pm

    Market segmentation is basically dividing your market into groups on the basis of whatever parameters you choose: age, gender, geographic location, income, marital status, buying habits, cultural considerations, etc.

    Such segmentation may lead to creating different ads or concepts for each market segment. For example, let’s say you market Deodorant. The concepts you develop to reach young adult men may differ from the concepts you develop to reach women. That’s why the commercials produced for TAG look markedly different than the ones produced for SECRET.

    Another example of market segmentation at work (or the lack of it): several years ago, Chevrolet introduced the Chevy Nova to Mexico/Latin America. Chevrolet failed to take into account that the word "Nova" translated into Spanish as "no va," which means "no go." Not a very smart way to promote an automobile.

    Cultural considerations are another of the parameters that can be used to segment a target audience.
    References :

  2. Refer http://www.indiastudychannel.com/resources/15552-Market-Segmentation.aspx
    to get more details about market segmentation.
    References :
    http://www.indiastudychannel.com/resources/15552-Market-Segmentation.aspx

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