Marketing91

  • Home
  • All Tutorials
    • Marketing
      • Advertising
      • Branding
      • Sales
      • Retailing
      • Consumer Behavior
      • Customer Management
      • Distribution
      • Market Research
      • Pricing
      • Product Management
      • Strategy
      • STP Marketing
      • Services Marketing
    • Digital Marketing
      • Blogging
      • SEO
      • E-commerce
      • Email marketing
      • Social Media Marketing
      • Facebook Marketing
    • Brands Analysis
      • Marketing Mix
      • SWOT of Brands
      • Strategies
      • Competitors
      • Lists
    • Management
      • Communication
      • Leadership
      • Decision Making
      • Team Management and Delegation
      • Organizational Management
      • Motivation
      • Personal Development
      • Project & Risk Management
      • Time Management
      • Operations Management
    • Careers
      • Interviews
    • Business
      • Business Models
    • Human Resources
    • Skills
  • News
  • About Us
    • Contact Us
  • Academy
Home » Marketing » Beginners guide to Market Segmentation

Beginners guide to Market Segmentation

June 13, 2023 | By Hitesh Bhasin | Filed Under: Marketing

This is a comprehensive guide on Market segmentation which lists out the different types of segmentation, role of segmentation in marketing, the advantages of segmenting a market and finally how to do market segmentation. Market segmentation is one of the first steps in any marketing plan. This is because when you start making a marketing strategy, you start with deciding the segment, target and positioning (STP).

Beginners guide to Market segmentation

Table of Contents

  • What is market segmentation?
  • Criterias for segmentation
  • Why segmentation is used?
  • Types of segmentation
  • Limitations of Market segmentation

What is market segmentation?

Segmenting a market means dividing a population on the basis of specific factors which the marketer is looking for. For example –  you can divide a population based on the geography, the income group or the thinking and the attitude of the customer as well. Once you have decided the right market segment, then you can design the necessary marketing mix to target the customer properly and have the right position in the mind of the customer. Thus overall the segmentation helps decide the marketing mix, the target market and the positioning. Read more to know about market segmentation.

Criterias for segmentation

All concepts have a basic criteria, a need which has to be fulfilled for the concept to take effect. The same is in the case of market segmentation wherein basic requirements are needed for segmentation to be designed and to discover a market segment. Here are the criterias for market segmentation.

Why segmentation is used?

There are many reasons for using market segmentation. However, one of the major focus of segmenting a market is to match the need of the customer. The link Why market segmentation is needed? will give you 6 different reasons to use market segmentation. On the other hand, once more article is noteworthy in this area and it tells you 6 advantages of market segmentation.

STP Segmentation, targeting and positioning are the three pillars of modern marketing management. Here is an article outlining the major differences between segmentation, targeting and positioning.

Types of segmentation

There are various types of Market segmentation based on different requirements of the marketer. The most basic one is demographic segmentation wherein the population is divided on the basis of demography. However, quite recently, behavioural and psychographic segmentation have also gained in importance. Here is a small list of the main types of market segmentation being used.

  • Demographic segmentation
  • Psychographic segmentation
  • Behavioral segmentation
  • Geographic segmentation
Also Read  What is Planogramming? 6 Types of Planograms

Limitations of Market segmentation

Marketing segmentation is not a completely established concept and it has its own limitations too. Refer to this link to know the limitations of market segmentation.

Decision making – Ultimately, the various concepts of marketing are established to help the marketing manager take the right decisions. Thus, even market segmentation is used to guide the marketing manager into taking the right decisions. Read the following article to learn how market segmentation influences decision making.

Here is a video by Marketing91 on Market Segmentation.

Liked this post? Check out the complete series on Segmentation

About Hitesh Bhasin

Hi, I am an MBA and the CEO of Marketing91. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. You will generally find me online at the Marketing91 Academy.

Related posts:

  1. The 7 Steps of Market segmentation – Process of segmentation
  2. Secondary Market Research for Beginners
  3. What is the Need for Market Segmentation? Key Practices & Benefits
  4. Six reasons for Market segmentation
  5. Criteria’s for market Segmentation
  6. How market segmentation influences decision making
  7. Market Segmentation – Examples, Types and Strategies
  8. Quick Guide to positioning
  9. Marketing Management Process: A 5-Step Guide
  10. Brand Style Guide: Definition, Importance and Examples
Not found what you are looking for? Search this website.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement
Recent Posts
  • Digital Marketing: Definition, Importance, Types, Skills and Tools
  • 9 Characteristics of Quality
  • What is Television Advertising? Characteristics, Types & Examples
  • What is Women Entrepreneurship? Features, Functions and Characteristics
  • Consignment Sales: Definition, Advantages and Disadvantages
Advertisement

Marketing91

MORE INFO

  • About Marketing91
  • Marketing91 Team
  • Privacy Policy
  • Cookie Policy
  • Disclaimer
  • Terms of Use
  • Editorial Policy
  • Advertise
  • Contact us
  • Sitemap

WE WRITE ON

  • Marketing
  • Management
  • Strategy
  • Skills
  • Careers
  • Digital Marketing
  • Business
  • Human Resources
  • Operations Management
  • Marketing News
  • SWOT's
  • Marketing mix's
  • Competitors
  • Strategies
  • Lists
Search
[email protected]

Copyright © 2023 Marketing91 All Rights Reserved