LONDON--(BUSINESS WIRE)--Aug 21, 2018--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the different types of market segmentation strategies that best suit your organization.
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Gaining a Clearer Picture of Your Market with Market Segmentation. (Photo: Business Wire)
A market segmentation process basically includes grouping and sub-grouping large homogenous markets into clearly recognizable segments. The division is made on the basis of similarities in wants, needs, or demand characteristics. The market segmentation process also helps organizations concentrate their marketing energy on many pre-defined market segments to gain a competitive advantage within that specific segment.
Types of market segmentation:Geographic segmentation: This type of market segmentation is one of the most common types, where organizations segment the market by focusing on many geographic areas. For example, most restaurant chains are identified to start their market segmentation process in such a manner that they emphasize on a limited geographic area to achieve the concentration of force. Also, consumer preferences differ from region to region. So, it is significant for companies to choose that geographic segment that best aligns with their goals. To know more about our portfolio of market segmentation solutions, Psychographic segmentation: This is a strategy that considers the lifestyle of people, interests, their activities, as well as opinions to describe a market segment. Such types of market segmentation take into account the psychographic aspects of the consumer’s buying behavior. They also reflect the psychological features of consumer buying. A famous example is fashion brands who market themselves based on the lifestyle and fashion needs of their target customers. To know more about our portfolio of solutions, Demographic segmentation: This is one of the most widely used and simplest types of market segmentation. In this type of market segmentation process, the population is divided based on variables such as gender, age, nationality, income, and occupation. The demographic segmentation variables help divide a huge population into precise customer groups. One of the industries that usually make use of this market segmentation process is the automobile industry. For example, station wagons are intended to suit families with more number of members. On the other hand, a Ferrari is designed for high-end customers who have an interest in sports cars. , to know more about the different types of market segmentation
Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the different types of market segmentation.
View the complete list of the different types of market segmentation:
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 15+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.
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SOURCE: Infiniti Research
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