Types of segments
It would be possible to segment markets according to characteristics, which have no marketing value in the majority of cases; for example eye colour or those who have visited France in the last 6 months. However, if the purchasing behaviour of a segment is very distinctive, it will allow the firm to develop an appropriate marketing mix for that group. So, an important role of any marketing department is to segment their target population in a way that will support the firm's marketing strategy.
Market segmentation may be based on various characteristics:
- Demographics - the characteristics of human populations
- Pyschographics - attitudes, values, lifestyles, and opinions of consumers
- Geographics - where consumers live