Understanding Benefit Segmentation

What is Benefit Segmentation?

As implied by the name, benefit segmentation is splitting up the market based upon the key benefits and needs sought by purchasing consumers. As a result, benefit segmentation is a very consumer-centric approach as it identifies the core product needs of the consumers.

Note for students: Read more...

Understanding Demographic Segmentation

What is demographic segmentation?

This approach to segmentation is dividing the market into segments based upon demographic variables, such as age, gender, life stage, family size, income, and so on.

Demographics are observable characteristics of the population, often collected on a regular basis for a government census.

Why use demographic

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Construct a Segment Profile within Minutes

Building a Segment Profile

If you have consumer data, then you can create many segment profiles!

If you have access to market research survey data or a customer database, then building segment profiles are very quick and simple to do using a Excel spreadsheet. Here is a free Excel template … Read more...

Bring Your Own Persona

[email protected] originally defined the term BYOP as “identifying new segments by their digital engagement.”

According to Wharton, this persona is based on:

  1. digital capability and
  2. trust.

Using the Wharton definition, ‘digital capability’ is a consumers’ ability to maximise their usage of the latest technologies such as mobile apps, wearables, social … Read more...