Thursday, February 25, 2010

Segmentation

A Market Segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.

Market Segmentation is the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.

How did we come up with the Market Segmentation for Mike's art, and what where the Market Segments?

4 comments:

  1. In our 'cross-groups' the administrative group determined three different segmentation groups that will be considered in the marketing of Mike's jewelry. Out of the 27 mock facebook pages, 17 were Male and 10 were female. These two characters were predominantly surfers, but details will follow. The third group considered later is the older generation, otherwise known as parents and grandparents who buy gifts for the other two segments previously stated.

    ReplyDelete
  2. This older group Morgana is talking about - the parents and grandparents even - would be in the 39-65 age range.

    Income: middle class - high income (avg 60K)
    Education: Ranges from High school, Some College and Graduate School.
    Lifestyle: Most likely right wing with artistic children. Otherwise, Organized and busy with work and family concerns
    Activites: Work, Gym, Reading, CNN (or FOX for you Bushers), Family weekend activities.

    These would be the costumers who have the money to go on vacation the the tropical/beachy places and bring back gifts for their younger kids or grandchildren.

    ReplyDelete
  3. Males:
    Age Group: 18-24
    Income: Low, Minimum Wage
    Astrological Sign: Aires/ Aquarius.
    Education: High School to Community College.
    Lifestyle: Beach Goer, Laid back, Single and ready to mingle.
    Color: Greens, Browns, Oranges, earthy colors.
    Activites: Surfing, skatebording, hanging out, guitar playing, smoking.

    ReplyDelete
  4. Females:
    18-24 Age group.
    Income: Low, Minimum Wage
    Astrological Sign: Scorpio
    Education: High School to 4yr college.
    Lifestyle: Beach Goer, Laid back, Single and ready to mingle.
    Color: Greens, Browns, Oranges, earthy colors.
    Activites: Surfing, skatebording, hanging out, guitar playing, smoking, playing drums, skating, jetskiing, softball, nothing, music, friends, art.

    ReplyDelete