What's it: Demographic refers to a population's characteristics both in terms of size, structure, population distribution, and change. Some of the critical demographic variables include population density, age, marital status, gender, race,
Market Segment
Demographic Segmentation: Variables, How it works and Variables
What's it: Demographic segmentation divides the population in a market into segments based on variables such as age, education, income, and occupation. Then, the company associates these variables with consumer tastes and purchasing
Geographic Segmentation: Meaning, How it Works, Pros, Cons
What's it: Geographic segmentation divides consumers into segments based on where they live. It is a market segmentation alternative to demographic segmentation and psychographic segmentation. Some items may only be suitable in tropical
Market Segment: Meaning, Why It Matters, Criterias, Types
What's it: A market segment is parts of a market where consumers share a similar need or want. Individuals in one segment have similar characteristics, including in responding to the marketing mix. However, they are quite heterogeneous with
Psychographic Segmentation: Meaning, Why it Matters, Variables
What's it: Psychographic segmentation divides the population in a market into segments based on psychographic variables such as values, personality, goals, interests, and lifestyle. Compared with the other two market segmentation, demographic
Values, Attitudes and Lifestyles (VALS): Categories and Why They Matter
What's it: VALS stands for values, attitudes, and lifestyles, a framework for psychographic segmentation. It combines psychological and demographic characteristics to explain consumer behavior. Under the VALS framework, customers in the
Behavioral Segmentation: Meaning, Types, Advantages, Disadvantages
What's it: Behavior segmentation divides the market into small, homogeneous groups based on consumers' habit patterns spending their time and money. Consumers in a segment should be similar in terms of their wants, resources, buying attitudes,