Gurus On Marketing

Geographic factors
Which countries or regions do you want to market your products
in? Consider population size and density; population traits; cities,
villages etc.
Demographic factors
Population size, density, traits, composition, structure, family size, and
other variables can be used to segment the market.
Socio-psychological factors
What do consumers think of the products in terms of their life-style;
their attitude; social class; brand loyalty; personality types; health factors
etc.
For segmentation to be successful it is important for a segment to be
large enough for it to be profitable; distinct enough to differentiate;
homogeneous enough to prepare a marketing plan and measurable
to determine the effectiveness of marketing.
Segmentation is important in developing a target marketing plan. For
marketing strategy to succeed, segmentation has to be meaningful
and appropriate.
Product/service positioning
Once the segment is determined then a decision has to be made as
to how to position the product. The idea of positioning is to find out
how the customers/consumers in particular segments are going to
perceive your product/service and your message about these products
and service.
It is said that: ‘what consumers perceive, consumers should receive’.
18
GURUS ON MARKETING