Business, 12.01.2021 18:20 jeremiah1212

Read the overview below and complete the activities that follow. Describing segments is the second step in the Segmentation-Targeting-Positioning process. In this step, firms break down the entire market into segments with similar qualities, using a variety of methods and tools. Categorize the products and targeted consumers by segmentation method.

CONCEPT REVIEW:
There is no single best way to segment a market. Firms choose methods based on the type of goods/services they offer and on their goals. For instance, if the firm wants to identify its customers easily, geographic or demographic segmentation likely will work best. But if it wishes to dig deeper into why customers might buy its offering, then lifestyle, benefits, or loyalty segmentation are more appropriate. Geodemographic segmentation provides a blend of geographic, demographic, and psychographic approaches. Typically, a combination of several segmentation methods is most effective.

Categorize the item according to the segmentation method being used.

a. northeast college males
b. hybrid car snowblowers
c. videos for babies thinkers (VALS Segments)
d. boomtown singles metor gear
e. deodorant new moms

METHOD PRODUCT TARGETED SEGMENT
GEOGRAPHIC
DEMOGRAPHIC
PSYCHOGRAPHIC
BENEFIT
GEODEMOGRAPHIC

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Read the overview below and complete the activities that follow. Describing segments is the second...

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