What are the ways of Segmenting a Market?

What are the ways of Segmenting a Market?

We generally use segmentation approach under two broad areas:

1) Consumer Segmentation: We can segment customer in the following parameter based on the requirement:

• Demographics
• Psychographics
• Usage of products/services
• Benefits sought
• Brand Loyalty
• Adopters- early vs later

2) B2B Segmentation: Here we can make use of the following approaches:

• Firmographics
• Channel position
• Business priorities and goals related to product
• Success in achieving goals
• Loyalty and purchase behavior

This is indicative. Based on client requirement, other ways can also be applied. Write to us contact@marketquotient.com if youe need any specialized consultancy services.

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