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Flashcards in STP - Segmentation Deck (6)
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1

What is segmentation?

'The top down process of grouping customers in markets with some similarities into smaller, more homogenous segments ' Kotler 1996
-Goal is to identify specific customers needs and design a program to satisfy those needs

2

What is geographic segmentation?

- Defines customers according to their location
- They are easy to define, measure and most the information is publicly available

3

What is psychological segmentation?

Lifestyle segmentation

4

What are the 4 psychological segmentation and who came up with it?

Plummer 1974:
1) Activities - Work,shopping,holiday and social life
2)Interests - Whats important to the consumer
3) Opinions - Attitudes, beliefs
4) Demographics - age,income

5

What are the benefits of psychodynamic segmentation?

- open the door to a better tailored, more subtle offer to the customer on all aspects of the marketing mix
-Valuable for products that are more psychological than functional

6

Whats involved in behavioural segmentation?

Usage Rate - The rate at which the product is consumed
Benefits sought -e.g buying chilled ready meal may ease preparation time
Loyalty - Marketing is more focused on keeping those who are loyal
Readiness to purchase - Can people just buy your product when they want?
End use? - will the end product mean its worth being sold in different sized packages