Definitions -

Formal Definitions of Market Segmentation

There are multiple variations of formal academic definitions of market segmentation, but they all share a similar core idea. And we can summarize the definition as the process of dividing a broad market into smaller, well-defined groups of consumers with similar characteristics, needs, or behaviors.

Formal Definitions of Market Segmentation Read in Full

A Quick Introduction to 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 product needs.

A Quick Introduction to Market Segmentation Read in Full

Determinant Attributes

But what is meant by a ‘determinant’ attribute? Well, a simple way to think about determinant attributes is to consider the particular attributes a consumer uses when they are determining their choice between competitive offerings. In other words, determinant attributes are the most important for them and are used to differentiate key offerings.

Determinant Attributes Read in Full

Introduction to Positioning

Positioning (or product positioning) is how the product is designed to be perceived in the marketplace by the target market against its main competitors. In other words, it’s basically how consumers understand the product offering and how it differs from similar competitive offerings.

Introduction to Positioning Read in Full

What is Market Segmentation?

A great introduction to what is market segmentation and its related concepts, ideal for university-level marketing students.

What is Market Segmentation? Read in Full