Market segmentation of Audience for Brands
An organization’s audience might be different with respect to various aspects like their requirements, resources, locations, buying attitudes and practices. Through market segmentation, an organization can diversify its prospective audience base into smaller segments and approach each segment in a unique and acceptable approach.
Market segmentation can be studied in four important topics; segmenting customer markets, segmenting business markets, segmenting international markets and requirements for effective segmentation.
For the Health and Nutrition Start-Up, Habbit; we shall be segmenting the customer markets to position the brand better in the market.
Major segmentation variables for consumer marketsSegmentation VariablesExamplesGeographicLocation aspects: Country, state, population density, neighbourhood, etc.,DemographicPeople aspects: Age, gender, income, religion, ethnicity, education, generation, etc.,PsychographicMental aspects: thoughts, lifestyle, personality, etc.,BehaviouralConduct aspects: Occasions, loyalty status, user rate, etc.,