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Thursday, 20 September 2018

Bases for Segmenting Consumer Markets



 (MAJOR SEGMENTATION VARIABLES) in line with marketing concepts, consumers products requirements and consumers response to marketing stimuli are the best market oriented variables. This means that the best segmentation is the one that considers what the consumer needs and want are and how the consumer response to the marketing mix. Remember that the purpose why a marketer is in business is to satisfy the needs of the consumers.

 Four broad segmentation variables can be adopted for consumer market.

 1. Demographic factors / variables
 This can be logically broken down into: 
(a) age example 0-5 years, 6-10, 11-15, 16-20, 21-35, 36-55, 65 and above.

(b) sex: male, female.
(c) Family size: 1-2, 3-4, 5-8, 9 and above.
(d) Family Life Cycle: the concept of family life cycle refers to the important stage in the life of an ordinary family. The typical family life cycle young, single mama young married, no children, young married youngest child on the 16, young, married, youngest child six all over, old, married, no children, older married with children, older, married, no children under 18, old, single et e.t.c.

 The family life cycle stage segmentation recognises the importance of individual stage in buying behaviour whether as a family or a household. A household is made up of people living under the same roof while a family is made up of people who are related by blood.
The family life cycle concept introduces us to vibrant market single and mingles. Mingles are unmarried couples of the opposite sex living together. There is a bit fascinating buying behaviour. The single are likely to be more affluent, more mobile, more oriented so immediate pleasures rather than to long-term relationship, more fashionable and appearance conscious , more active in leisure posit, more radical.

(e) Income: under N10,000 per month, N11,000,- N15,000; N16,000-N20,000; N21-000-N30,000-N50,000; N50,000 and above.

Some people can earn so much but they consider themselves porr, these are people who think of themselves as poor relative to their situation aspirations and to their needs for a certain level of clothing, accommodation and furniture . Some artisan make higher income than most professionals. Preference of various income groups can be used as a bases for segmentation.

(f) Occupation: professional and technical people, directors, managers, top civil servant, banking, insurance, import export business, police, customs, immigration officers, commercial vehicle drivers, journalist, marketers, housewives, unemployed.

(g) Education: professions, graduate, school certificate holders.

(h). Religion: christians, muslims, catholic, protesters, pentecostal,, hamadiya, white garment, n a s f a t , arthest.

(i) Race: white, black, blended,

(j) Nationality: nigerians, ghanaians, middle eastern, julians.

(k) Ethnic origin: yoruba, igbo, hausa, itsekiri, ijaw etc.

MARKET SEGMENTATION AND CONSUMER BEHAVIOUR
1. Social class: lower lower, upper lower lower middle, upper middle, lower upper, upper.

2. Geographic factors variables:
     Geographic segmentation divides the market into different geographic locations such as:
(a) Religions: north, south, west, east.

(b) there are 36 states in Nigeria plus the f c t abuja.

(c) Local government areas:
(d) Country size: Nigeria, Ghana, the Gambia.
(e) City destiny: urban, suburban, urban rural, rural, rural, rural.
(f) climate: northern, southern.

PSYCHOGRAPHIC FACTORS/VARIABLES:
     Feature graphic factors classify consumers into various groups depending on consumer's activity, interests and opinions. Buyers are different ciated on basics of life style or personality differences.

(a) lifestyle describes the beliefs, values and importance that one attaches to consumption, work and play. In buying cars, some people prefer safety, others emphasize the economy, size. Some women are described as fashionable spend hours dressing up applying colour separation materials, others are mainly plan, or youthful even at 60.

(b) personality refers to all these factors that make an individual different from the other person. Some ppl are introverts , prestige conscious independence, moscow line, less muscular e t c.

4. Behaviouristic Factors/ Variables: behavioristic factors divide consumers into different groups on the basics of the attitude knowledge use or response to a particular product or eat perceived attributes. This includes:
(a) user status: none uses, excuses, potential users, first-time users, regular users.

(b) usage rate light users, heavy users, medium users. This is also called volume segmentation.

(c) loyalty status this describes the amount of loyalty that an individual buyers has towards a product. It ranges from zeroBASES FOR SEGMENTING CONSUMER MARKETS: (MAJOR SEGMENTATION VARIABLES) in line with marketing concepts, consumers products requirements and consumers response to marketing stimuli are the best market oriented variables. This means that the best segmentation is the one that considers what the consumer needs and want are and how the consumer response to the marketing mix. Remember that the purpose why a marketer is in business is to satisfy the needs of the consumers.

 Four broad segmentation variables can be adopted for consumer market.

 1. Demographic factors / variables
 This can be logically broken down into: 
(a) age example 0-5 years, 6-10, 11-15, 16-20, 21-35, 36-55, 65 and above.

(b) sex: male, female.
(c) Family size: 1-2, 3-4, 5-8, 9 and above.
(d) Family Life Cycle: the concept of family life cycle refers to the important stage in the life of an ordinary family. The typical family life cycle young, single mama young married, no children, young married youngest child on the 16, young, married, youngest child six all over, old, married, no children, older married with children, older, married, no children under 18, old, single et e.t.c.

 The family life cycle stage segmentation recognises the importance of individual stage in buying behaviour whether as a family or a household. A household is made up of people living under the same roof while a family is made up of people who are related by blood.
The family life cycle concept introduces us to vibrant market single and mingles. Mingles are unmarried couples of the opposite sex living together. There is a bit fascinating buying behaviour. The single are likely to be more affluent, more mobile, more oriented so immediate pleasures rather than to long-term relationship, more fashionable and appearance conscious , more active in leisure posit, more radical.

(e) Income: under N10,000 per month, N11,000,- N15,000; N16,000-N20,000; N21-000-N30,000-N50,000; N50,000 and above.

Some people can earn so much but they consider themselves porr, these are people who think of themselves as poor relative to their situation aspirations and to their needs for a certain level of clothing, accommodation and furniture . Some artisan make higher income than most professionals. Preference of various income groups can be used as a bases for segmentation.

(f) Occupation: professional and technical people, directors, managers, top civil servant, banking, insurance, import export business, police, customs, immigration officers, commercial vehicle drivers, journalist, marketers, housewives, unemployed.

(g) Education: professions, graduate, school certificate holders.

(h). Religion: christians, muslims, catholic, protesters, pentecostal,, hamadiya, white garment, n a s f a t , arthest.

(i) Race: white, black, blended,

(j) Nationality: nigerians, ghanaians, middle eastern, julians.

(k) Ethnic origin: yoruba, igbo, hausa, itsekiri, ijaw etc.

MARKET SEGMENTATION AND CONSUMER BEHAVIOUR
1. Social class: lower lower, upper lower lower middle, upper middle, lower upper, upper.

2. Geographic factors variables:
     Geographic segmentation divides the market into different geographic locations such as:
(a) Religions: north, south, west, east.

(b) there are 36 states in Nigeria plus the f c t abuja.

(c) Local government areas:
(d) Country size: Nigeria, Ghana, the Gambia.
(e) City destiny: urban, suburban, urban rural, rural to absolute. Some people read only the Punch while others it is ALAROYE; this day. Some people use aerial while stick to omo.
(d) benefits sought economy , convenience, prestige. What benefits do you take in toothpaste, car, accommodation?
(e) purchase occasion: regular, irregular.
(f) Readiness stage etc.à