RE: ON MARKET SEGMENTATION

Review the names, and definitions of the six categories of market segmentations as listed below and as discussed more completely in this chapter 4 of the textbook, and list and briefly discuss besides the examples provided in the textbook at least one additional example of each of two types of segmentation.

--Demographic segmentations are classic. This method divides the market into groups based on age, income level, and gender.

--Business demographics may also be valuable. Government statistics divide businesses by size (in sales or number of employees) and type of industry (using industry classification systems such as SIC, the standard industrial classification). If the business is selling to companies, then the focus is on segmenting by using types of business.

--Geographic segmentation, another classic method, divides people or businesses into regional groups according to location.

--Psychographic segmentation divides customers into cultural groups, value groups, social sets, or other interesting categories that might be useful for classifying customers.

--Ethnic segmentations are somewhat uncomfortable for those of us living in a country with a history of ethnic-based discrimination.

--Combination segmentations are also common.