As a marketer, it is very unlikely that you will encounter a set of two consumers who have exactly the same tastes and preferences. That is expected. As human beings, many differences exist among others. From our genetic make-up, our cultural background, our levels of education, life experiences and so on. One will therefore not be surprised to when consumers demand different things from a product or service. Behavioral segmentation is the subdividing of a market based on these differences.
There are a number of differences between this form of marketing and the traditional marketing styles. Traditionally marketing was done by targeting a large heterogeneous group of customers. The marketer typically sent out promotional message to the group without considering any stratification. This type has the disadvantage of failing to address the concerns of different consumers adequately. It therefore results in returns that are much lower returns.
There are several types of behaviors that one may choose to use in the stratifying the market. There are really no hard and fast rules about these. All that you need to do is to identify the determinants of the demand for your goods. Product loyalty varies widely among clients. By identifying the groups of loyal and the less loyal customers, several segments can be created on this basis. The next this is to identify the reasons behind this difference.
The other way to achieve the subdivision is to use the benefits sought as the guideline. Even for the same product, consumers do not always look for the same things. It is important to be aware of the different reasons that will make consumers demand for your goods. If the different segments are large enough then it may be necessary to modify the product in a manner that helps each consumer maximize on the benefits.
A number of goods are only bought occasionally. Their demand is noted to be unusually high during specific periods of the year when marking particular occasions or festivities. Christians buy lots of religious goods during Christmas and Easter. For this reason, they form a very important segment that needs to be recognized. If one is not aware of the existence of this segment of customers then they will not adequately meet the demand.
Usage rate is yet another criterion commonly used segmenting markets. The idea here is to create consumer groups based on how frequently they use the product or service in question. Generally, customers can be divided into three major groups using this criterion: these are the heavy, moderate and light users. Other than the frequency the quantity used by each of them can also be used as an attribute.
Buyer readiness is the willingness of a buyer to use a service or good. While some buyers simply like a product others are willing to pay for it. The levels of willingness are divided into 6 that represent increasing levels of willingness to spend on the product. The first stage is awareness of product existence and the last stage is the purchase stage.
There are several other options of market subdivision that can be considered besides behavioral segmentation. Demographic, psychographic and geographic characteristics can all be used. The main objective is to make sure that the groups are large enough.
There are a number of differences between this form of marketing and the traditional marketing styles. Traditionally marketing was done by targeting a large heterogeneous group of customers. The marketer typically sent out promotional message to the group without considering any stratification. This type has the disadvantage of failing to address the concerns of different consumers adequately. It therefore results in returns that are much lower returns.
There are several types of behaviors that one may choose to use in the stratifying the market. There are really no hard and fast rules about these. All that you need to do is to identify the determinants of the demand for your goods. Product loyalty varies widely among clients. By identifying the groups of loyal and the less loyal customers, several segments can be created on this basis. The next this is to identify the reasons behind this difference.
The other way to achieve the subdivision is to use the benefits sought as the guideline. Even for the same product, consumers do not always look for the same things. It is important to be aware of the different reasons that will make consumers demand for your goods. If the different segments are large enough then it may be necessary to modify the product in a manner that helps each consumer maximize on the benefits.
A number of goods are only bought occasionally. Their demand is noted to be unusually high during specific periods of the year when marking particular occasions or festivities. Christians buy lots of religious goods during Christmas and Easter. For this reason, they form a very important segment that needs to be recognized. If one is not aware of the existence of this segment of customers then they will not adequately meet the demand.
Usage rate is yet another criterion commonly used segmenting markets. The idea here is to create consumer groups based on how frequently they use the product or service in question. Generally, customers can be divided into three major groups using this criterion: these are the heavy, moderate and light users. Other than the frequency the quantity used by each of them can also be used as an attribute.
Buyer readiness is the willingness of a buyer to use a service or good. While some buyers simply like a product others are willing to pay for it. The levels of willingness are divided into 6 that represent increasing levels of willingness to spend on the product. The first stage is awareness of product existence and the last stage is the purchase stage.
There are several other options of market subdivision that can be considered besides behavioral segmentation. Demographic, psychographic and geographic characteristics can all be used. The main objective is to make sure that the groups are large enough.
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