What are the different types of market segments?

There are four primary categories or types of market segments. Four primary categories include geographical, behavioral, demographic and psychographic. Numerous subcategories or partial segments also include each type of segments. Market segments are primarily used in the division of customers into categories for marketing purposes.

Geographic market segments focus on customer placement. Customers who live and work in different countries or areas of the country may have different needs in terms of products and services. For example, customers living in Florida do not need snow shovels, but the same company can produce shovels on the beach that could sell customers in Florida.

market demographic segments are one of the most popular ways to segment their customers. Demography consists of characteristics such as age, gender or customer family size. Other demographic data may include income, education and profession. Religion, Race and nationThey are other dividing factors in the market segmentation.

For example, income can play a role if the company sells top luxury goods. A private school that is preparing for a marketing campaign can pull out a list of households with children who have revenues that exceed $ 200,000 (USD) per year. In this scenario, the private school separates possibilities using demographic and geographical market segments.

The psychographic segments of the market focus on lifestyle. Companies using these types of categories can focus on the socio -economic class of customers, such as low -income households, medium or high net value. Types of lifestyle and personality can focus on homosexual couples or people who like to grow, depending on the type of product or service that the company sells.

behavioral market segments distribute customers on the basis of theirPurchasing decision. In general, the company would segment customers such as this for targeted marketing campaigns. For example, if the company plans to re -involve old customers, the company can categorize the customer by purchasing frequency. The campaign can therefore include anyone who has not bought from society in the last year.

The same company would not want to send a marketing campaign to re -involve the customer who had just bought them last week. Customers who bought in a time frame, which is less than a year, would fall into the behavior market segment, but in a subcategory that is different. Purchase behavior also works in UP-Sell scenarios. For example, a customer who buys sound books from a company that sells various information products is likely to buy another sound book.

The company can categorize market segments according to product type. Then, when he publishes another audio book, he can send notifications to all customers in the sound of the OOK because hewill probably buy again.