It sometimes might come across your mind why these marketing people have these difficult terms that only they are supposed to understand.
Such as segmenting and targeting. For me its just the same right ?
I sell products to the segment of 'people who smoke but still care for their health' sounds like a contradiction right ? But that's how the 'low tar' cigarettes was born. But I was wrong.
Segmenting is closely related to targeting, but they are not the same.
Segmenting is the identification of various groups by applying ‘filters’ such as ‘gender’, ‘age’,etc to distinctly separate each other.
Targeting is making a choice which segments to serve.
There are several methods of segmenting :
- Geographic: Nation, state, region, urban, neighborhood, etc.
- Demographic :Age, life-cycle, gender, income, religion, race, etc.
- Psycho graphic : Social class, lifestyle, personality, etc.
- Behavioral :Knowledge, attitude, use, responses, occasions, benefits, user status, usage rate, loyalty status, etc.
- Hybrid / Combinations: geo-demographic, geo-psychographic, etc.