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ASSIGNMENT ESSENTIALS OF MARKETING BUS 400 Prepared for Mr Jimmy Kelana Lecturer of Essentials of Marketing Prepared by Devi B30611231 5th April 2004 Kensington Institute Indonesia Market Segmentation is the process of dividing a market into direct groups of buyers who might require separate products or marketing mixes There are several major bases for segmenting the market they are geographic demographic psychographic and behavioral variables Geographic segmentation Geographic segmentation calls for dividing the market into different geographical units such as nations regions states countries cities or neighborhoods In this way of segmenting market a company should produce and sell the right products in the right geographic areas at the right times Demographic segmentation Demographic segmentation is the process of segmenting market based on variables such as gender family size family life cycle income occupation education religion race and nationality This is the most popular bases for segmenting customer groups because consumer needs wants and usage rates often vary closely with demographic variables and easier to measure than most other types of variables 8226Age and life-cycle stage Companies who use age and life-cycle segmentation offer different products or use different marketing approach for different age and life-cycle groups However marketers must be careful to guard against stereotypes when using this kind of segmentation Although you might find some 70-year-olds in wheelchairs you will find others on tennis courts Thus age is a poor predictor of a persons life cycle health work or family status needs and buying power Age and life-cycle approach are often use by insurance companies 8226Gender This kind of segmentation has long been used in clothing cosmetics and magazines The car industry uses gender segmentation extensively Women have different frames upper-body strength and greater safety concerns To address these issues car makers are designing cars with hoods and boots that are easier
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