Page 48 - Marketing the Basics 2nd

40 Marketing: the Basics
Mass market
Geographic/demographic
(Life cycle, gender, income, location)
Psychographics (Values, lifestyles, personality)
Behavioural (Brand loyality, benefits sought, etc.)
Target market
figure 3.1
Segmentation pyramid
proud of their heritage, often referring themselves as Basques first, then as citizens of Spain. For marketers wanting to sell products to Spain, they must be aware that they must modify the marketing mix for residents in the Basque regions accordingly.
New technologies are opening up new possibilities in geographic segmentation. Mapping tools such as geographic information systems make it possible to narrow the geographic unit to a single home. And online, it is possible to filter the data right down to a single computer.
DEMOGRAPHIC SEGMENTATION
Dividing a group according to variables such as age, gender, marital status, income, occupation education, religion and nationality is called demographic segmentation. Demographic segmentation is by far the most popular means of segmentation because it has traditionally been highly correlated to consumption patterns, meaning demographic variables have been very good at predicting consumer behaviour. Today, the predictive power of demographic data is not as effective as in the past. For example, the role of women has dramatically evolved in many industrialized countries in the last generation. In the past, a women’s age and marital status were