So that a company is successful and comply with your financial goalsYou must know your target audience very well, what their needs are, and know how to meet their requirements.
The deeper your knowledge about these aspects, the better defined market you can have, something very beneficial given the large number of people with different tastes, opinions and needs that make up.
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This better definition will also be favorable to determine the scope that the product should have and the most appropriate way to do it is through the market segmentation.
This segmentation is nothing more than the division of the market into consumer areas or sectors that present certain common characteristics, that is, they present a variable or groups of variables given.
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People not only differ in a single aspect, so there are several criteria and variables that are used to segment the market, in addition to this it is also highly advisable to use several of them simultaneously under one technique mixed.
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In this article you will find:
Variables to Segment the Market
There are many criteria for segmenting the market, each of them also includes several aspects, each of them will guide the profile of consumers and a more exact knowledge of it.
The most used variables are:
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- Demographic
- Socioeconomic
- Psychographic
- Behavioral
- Geographic
1.- Demographic variables
This variable is widely used due to the ease with which it can be measured, as well as its close relationship with demand; interprets and analyzes variables related to physical and individual characteristics of potential buyers, such as:
- Age
- Group size and family life cycle
- Gender
- Religion
- Generation
- Economic income
- Social class
- Complexion and size
- Occupation
- Education
- Race
- Nationality
2.- Socioeconomic variables
This criterion is related to the purchasing power of consumers, since this will be the measure of the quantity and Quality of the products that you will be able to acquire; so your knowledge will help establish the marketing design for each sector, this is how there are low-cost and high-end products.
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Among the variables of this type, the following stand out:
- Family economic income
- Education level
- Profession
- Social classes
3.- Psychographic variables
In this case, the segmentation is based on the criteria of purchase motivation and they have a high rate of effectiveness when dividing the consumer market by groups.
Some variables corresponding to this type of segmentation are:
- Social classes
- Personality
- Lifestyle
- Level of introversion or extroversion
- Innovation
- Cultural characteristics
- Way of feeling and thinking
- Behavior towards other people
4.- Behavioral variables
This variable corresponds to the way in which a consumer perceives a product and the behavior of these that can guide your intention towards the purchase, or deviate it completely from it.
The market is generally divided into groups according to:
- Purchase occasion
- Profits
- Product use frequency
- Loyalty to a product or brand
- Customer situation
- Preparation stage
- Attitude towards the product
- Product knowledge
5.- Geographic Variables
One of the simplest variables to study, includes the geographical location of consumers, helps to delimit physically where the target audience is located, save distribution costs and make better use of the resources of marketing .
Some of these variables are:
- World region: North / South; East West
- Continent
- Country
- Town
- Urban, rural, metropolitan area
- Weather
- Population density
