Demographic Geographic Psychographic Market Segmentation. The 3 Basic types of market segmentation are Demographic Segmentation, Geographic Segmentation & Psychographics Segmentation. Target Market Segmentation Theories- Maslow’s hierarchy and VALS Segmentation Model in Consumer Behaviour.
Demographic Geographic Psychographic
Demographic Geographic Psychographic segmentation refers to the market segmentation technique based on the different factors related to the audiences. These are the most significant strategies to divide people into an identical subgroup. The purpose of the demographic geographic psychographic segmentation is to regulate a political campaign, commercial marketing and advertising.
Market segmentation is a process of separating people into similar subgroups based on geographic, demographic, and psychographic factors. It is an important process for social, political, and commercial campaigns and advertising. It is a great way of sending messages to a targeted group of people rather than everyone. A long time ago audience segmentation was used mostly for social and political campaigns. Nowadays, it has become very popular in market segmentation. Therefore, audience segmentation is known as market segmentation
Market Segmentation Examples
For example, a political leader is conducting a campaign asking to vote for his political party. So, the leader targets the voters only to conduct the campaign. In many countries all over the world, the minimum age for being a voter is eighteen years. For example, in the USA, citizens are eligible to vote in any public election who are a minimum of 18 years old or older than 18 years. So, the political leader definitely persuades people who are a citizen of the constituency and age minimum 18 years. Here, a citizen of the constituency refers to the habitant of a certain area that is also an example of a geographic factor of market segmentation. In similar, age is an example of demographic factors of market segmentation.
Demographic Geographic Psychographic
Types of Market Segmentation
The 3 Basic Types of Market segmentation are:
- Demographic Segmentation
- Geographic Segmentation
- Psychographic Segmentation
Demographic segmentation refers to the process of separating people into similar subgroups based on demographic factors such as age, gender, ethnicity, education, religion, economic, status, and group membership.
For example, a political organization is dividing people based on age. Actually, they are looking for voters whose age more than 18 years. It is an example of demographic segmentation.
The demographic factors are a set of characteristics of the audience, such as age, gender, ethnicity, education, religion, economic, status, and group membership. Demographic Segmentation Example and Definition has been discussed in the following link- Demographic Segmentation Example, Definition & Market Segmentation.
The Demographic Factors are
- Economic Status
- Group Member
Geographic segmentation is the process of separating people into similar subgroups based on geographical factors such as place of residence, climate and seasons, and population.
Place of Residence
Place of residence refers to rural and urban areas where the audience lives permanently or temporarily. People from urban and rural areas are different from each other in the perspective of their lifestyles for example dress up, outlook, and attitudes. Therefore, market segmentation is a very important process before starting an advertising or social campaign.
Season and Climate
Season refers to a certain time of year that categorized by a particular climate condition. For example, the United States has four seasons including Autumn, Spring, Summer, and Winter.
For example, Ice cream companies earn more money in the summer season than in winter. In contrast, the blanket selling company focuses on the winter season for marketing. The company needs to focus on geographic segmentation for the advertising campaigns.
Population means the inhabitants of a certain area. For example, Capital city, Metropolitan city, small town. Although they imply almost similar characteristics but have some differences too.
Psychographic Market Segmentation Factors
Psychographic segmentation is the process of separating people into similar subgroups based on psychographic factors such as values, beliefs, attitudes, and behaviours. These factors indicate the internal mental characteristic of people. The four psychographic factors of market segmentation are values, beliefs, attitudes, and behaviours. These four factors of Psychographic segmentation help to understand how the audience feels, and behaves.
For example, a political leader’s values, beliefs, attitudes, and behaviours are definitely distinguished from a physician.
Example of Psychographic segmentation
For example, You may feel that giving blood is important (Attitude) because an adequate blood supply is necessary to save a life (Belief) and because you respect human life (Value). Your (Behavior), as you participate in the blood drive and donate blood, is a logical and observable extension of your
Firstly, values mean a judgment of what is right or wrong, desirable or undesirable. For example, most people share the values of equality, freedom, honesty, fairness, justice, good health, and family. Another example, we respect human life naturally (Value).
Secondly, a belief is something you accept as true and it is stated as a declarative sentence. For instance, students believe that the use of the internet improves the quality of students’ research. Furthermore, You may feel that giving blood is important because an adequate blood supply is necessary to save a life (Belief).
Thirdly, an attitude is a statement expressing an individual’s approval or disapproval, like or dislike. Usually, attitudes evolve from our values and beliefs. Many values and beliefs interact to complicate our decision-making. For example, You may feel that giving blood is very important (Attitude).
Finally, Behavior is an individual’s observable action. It is the way of how we act or behave to others. It is the combination of other psychological factors such as values, beliefs, and attitudes.
For example, You may feel that giving blood is important (Attitude) because an adequate blood supply is necessary to save a life (Belief) and because you respect human life (Value). Your Behavior, as you participate in the blood drive and donate blood, is a logical and observable extension of your outlook.
market segmentation Theories
- Maslow’s hierarchy of Psychological Needs theory
- VALS Segmentation Model in Consumer Behaviour
Maslow’s hierarchy of Needs Theory
Maslow (1943) initially stated that individuals must satisfy lower level deficit needs before progressing on to meet higher level growth needs. However, he later clarified that satisfaction of a needs is not an “all-or-none” phenomenon, admitting that his earlier statements may have given for example “the false impression that a need must be satisfied 100 per cent before the next need emerges”. According to Maslow’s theory, human needs can be divided into five categories. These are physical needs, safety needs, belongings, and love needs, esteem needs, and self-actualization needs.
1. Physical needs: Physical needs are basic human requirements for livelihood for example water, food, rest, warmth, and so on.
2. Safety needs Requirements for security and protection purposes for instance personal security, health security, employment, property, and so on.
3. Belongings and love needs: Relationship with people around us for giving and receiving affection, for example, intimacy, friendship, family, and friends.
4. Esteem needs: Refers to self-confidence, self-esteem, self-respect of humans, for example, everyone has certain talent so we need to pat on the back from time to time for exploring their intellectuality.
5. Self-actualization needs: Refers to self-fulfilment desiring to become the most that one can be, for example, we need to our goals in order to feel that we have fulfilled our destiny or reached our potential.
Target market segmentation had become a very popular strategy for social, political, and business purposes. Now, people are living in a global village as global citizens for the easy accessibility of social media. Therefore, politicians and business persons are paying more attention to market segmentation for political campaigns and marketing publicity on social media such as Facebook, Instagram, Twitter, Youtube, and so on.