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Market Segments

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Introduction

Market segments are groups of consumers, who share common needs and characteristics. The common segments a business may use are: Age Gender Family Size Generation Income Occupation Ethnicity Nationality Religion Social class These are just demographical segments, others like geographical variables such as, region of the world, Country size, Population density and climate. ...read more.

Middle

For example, a person of age 12 will have different needs when it comes to magazines, to one of say 40. This is clear differentiation of a segment. Market segments, are based heavily on stereotypes that we hold. We commonly think that every single Muslim does not eat pork, this may not be the case, but this stereotype will be used when marketing a pork sausage, it will not be aimed at the Muslim section of society. ...read more.

Conclusion

Instead this product could be advertised between say 4pm and 8pm on weekdays, when it is most likely that the advert will reach its target audience. Precision is key when marketing a product, because if it misses the target audience, it can result in a complete failure and prove costly for a business. ...read more.

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