Human beings have many differences between them. Our genetic make-up is different, we live through different life experiences, we have varying religious beliefs and so on. In the same way, as consumers we have different views regarding goods and services. As a marketer, one needs to appreciate the differences even as they plan to start supplying their goods and services. Dividing the market into smaller segments based on consumer characteristics is what is known as behavioral segmentation.
There are several differences that exist between the traditional marketing strategies and the segmentation strategy. For instance, in the traditional approach, mass marketing was practiced. The marketer typically sent out a message to a large pool of potential customers in the hope of reaching out to buyers of products or services. In segmentation, the customer pool is stratified and each is treated differently from the other.
There are many types of behaviors that are used in subdividing the market. One of the behaviors that are used is product loyalty. There is a variation in the degree of loyalty that exists for different products and services among customers. The business can conduct research to establish the type of customers that are most loyal to a certain product and the reasons that contribute this kind of loyalty. Those with a low level of loyalty should also be identified and similarly, the reasons behind this should be identified.
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 stage may be used in some cases. There are about six stages that can be considered including awareness, knowledge, liking, preference, conviction and purchase. These stages include an increasing level of readiness to buy or use a certain good or service. Awareness denotes that clients know that the product exists in the market and at the purchase stage they spend money to get it.
Apart from behavioral segmentation, there many other ways of subdividing markets. The commonly used ones include the use of geographic, demographic and psychographic characteristics. The most important thing is to ensure that the segment created has members that share the same concerns.
There are several differences that exist between the traditional marketing strategies and the segmentation strategy. For instance, in the traditional approach, mass marketing was practiced. The marketer typically sent out a message to a large pool of potential customers in the hope of reaching out to buyers of products or services. In segmentation, the customer pool is stratified and each is treated differently from the other.
There are many types of behaviors that are used in subdividing the market. One of the behaviors that are used is product loyalty. There is a variation in the degree of loyalty that exists for different products and services among customers. The business can conduct research to establish the type of customers that are most loyal to a certain product and the reasons that contribute this kind of loyalty. Those with a low level of loyalty should also be identified and similarly, the reasons behind this should be identified.
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 stage may be used in some cases. There are about six stages that can be considered including awareness, knowledge, liking, preference, conviction and purchase. These stages include an increasing level of readiness to buy or use a certain good or service. Awareness denotes that clients know that the product exists in the market and at the purchase stage they spend money to get it.
Apart from behavioral segmentation, there many other ways of subdividing markets. The commonly used ones include the use of geographic, demographic and psychographic characteristics. The most important thing is to ensure that the segment created has members that share the same concerns.
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