A Quick Introduction to Market Segmentation

What is Market Segmentation?

Market segmentation is the process of splitting an overall market into two or more groups of related consumers, where each of these related consumer groups (known as market segments if correctly defined) are somewhat similar to each other in terms of their buying characteristics and/or Read more...

Should I Use Hybrid Segmentation Bases?

Hybrid segmentation is an approach using a combination of different segmentation bases.

As you most likely already know from your study of marketing, there are multiple approaches to segmentation. And while different marketing textbooks will provide a slightly differing choice of segmentation bases, they will usually include:

  • geographic,
  • demographic,

Should I Use Psychographic Segmentation Bases?

Psychographic segmentation is looking at consumer’s lifestyles, activities, and interests. It is a very effective way of understanding the consumer as a “person”.

But how effective is this segmentation approach for marketing purposes? This article explores the advantages and limitations of using psychographic segmentation bases when identifying target markets.

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Should I Use Geographic Segmentation Bases?

Given the choice of potential segmentation bases, should you use geographic segmentation?

This article explores the advantages and limitations of geographic segmentation. And although it is a segmentation approach which is somewhat dated (more likely to be used in the past) it still has relevant use, providing the geography changes … Read more...

What is the Difference Between STP and STDP?

STP vs STDP: What’s the Difference?

STP and STDP are both acronyms for a similar process in marketing, primarily part of market segmentation and its related steps.

STP stands for:

  • Segmentation
  • Targeting
  • Positioning

Whereas STDP, with the addition of the D, stands for:

  • Segmentation
  • Targeting
  • Differentiation
  • Positioning

As you can …

Why Use Concentrated Target Marketing?

Where Concentrated Target Marketing Fits In

Concentrated marketing is a target market strategy where the firm focuses on one selected target market. It is a targeting strategy that is midway between an undifferentiated (mass marketing) strategy and a differentiated marketing strategy.

A firm using an undifferentiated targeting strategy does not … Read more...