Segmentation variables are used for dividing a total market into segments. Selecting appropriate variable is an important decision of marketing segmentation.Consumer market consists of individual and households. They are ultimate consumers. The reasons for buying products are personal use or household use. Most products in consumer market are branded. Marketing is targeted at segments of consumer. The product is backed by attractive packaging and promotion. After sales services are provided.
The characteristics of consumer market are:
a) Focus: The focus of the market is individual and households. They are carefully targeted. They are carefully targeted. They are geographically dispersed.
b) Consumption: The consumers buy products for individual or household uses. They consume the products to satisfy their needs. The demand is generally elastic.
c) Branding: The products have a brand image. They are creatively positioned in the market.
d) Packaging: The product is attractive packaged.
e) Promotion: The product is backed by distribution networks, promotion and reliable after-sales services.
f) Demand: The consumers buy products in small volume.
g) Emotion: Most buying is emotional by consumers. They buy if they like.
Segmentation is based on:
a) Single variable segmentation: Only one variable is used to segment the total market. For example income.
b) Multi-variable segmentation: More than one variable is used to segment the total market. For example income and gender.
Segmentation variables for consumer markets can be:
- Geographic
- Demographic
- Psychographic
- Behavioural
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