Tool details
Market Segmentation
A tool to help you understand the different type of consumers in the market and what their commonalities are.
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When to use
Before you bring a product to the market.
Why you should
Understanding the types of consumers allows you to identify ways to market your product to them.
What you get
A clear differentiation of your consumers and strategies to target each of the segments.
Steps to take
Define your market.
Identify what types of consumers make up your market.
Split the user types based on their commonalities (see user types in "further reading")
Based on the user segmentation identify if you need to create different strategies or different products to cater for each segment of the market.
Further reading
Segment is based on your needs and your market it can be divided differently depending on your market.
The user types based on commonalites:
Geographic segmentation
Based on location such as nations, states, regions, countries, cities, neighbourhoods.
Demographic segmentation
Based on things such as age, gender, occupation and education level.
Behavioural segmentation
Based on their knowledge of, attitude towards, usage rate, response, loyalty status to the product.
Psychographic segmentation
Based on consumer’s lifestyles by studying the activities, interests, and opinions of consumers.