2nd Bac - Criteria for Market Segmentation

Unsatisfied demand


We refer to the product that the customers are looking for is not in the market. Or maybe that the products in the market do not fulfill the needs of the customers. Opportunity for a new business.


The market research offers some advantages like the following:


- Provides information for decision making

- Allows to know the origin and location of goods and services

- Enables different tools to work with 

- Defines the characteristics of the clients

- Makes known the changes in likes and preferences of the consumers

Criteria for Market Segmentation

There are a lot of criteria for market segmentation. Below you can see the main criteria:

            

            Demographic Variable: sex, age, social status, house size

            Socioeconomics: level of income, study level, occupation, family type

            Geographic: place, region, country, culture, climate, religion

            Psychological: lifestyle and personality

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