Geographic segmentation
It is a marketing strategy to targets products or services on the basis of where the consumer
resides. Division maybe it terms of continent, countries, cities, regions, provinces or states
Customers’ choice is mostly affected with where they live. For example women in cities are
more likely to own luxury goods than in rural area. There is high risk of theft in cities than in
rural areas. 1st for Women when advertising they must target people in cities more.
Demographic
It divides the consumers market into smaller categories based on common demographic
factors such as age, gender, income, occupation, family structure, ethnicity and religion. For
example if the family structure large the women may prefer low-cost insurance and insurance
that covers bulk services. Income also communicate useful information about buying power
of targeted women, for example luxury insurance cover that caters only to the high-income
segments of women
Psychographic
Groups are formed according to psychological traits that influence consumption habits drawn
from people’s lifestyles and preferences, personality, social status, attitudes, activities,
interest and opinions.it comprehend the values, attitudes and beliefs of the target market. 1st
for Women must learn what women care for in order to create campaigns geared towards
those individual for example insurance campaign for luxury goods maybe created that doesn’t
cater for middle or low class.
Behavioral
It comprehend common factors such as purchasing similar products, sharing same hobbies or
beliefs. This helps 1st for Women to understand what women customers consider before
joining insurance. This determined more by the frequency in which women use the product,
this gives significance to women to make decision to insure the product for example if
women uses their hand bag less frequently maybe once a month from rural to town they don’t
see the importance of insuring the handbag if it is expensive.
Benefit sought
Categories customers based on the perceived value and advantage they can receive from
goods and service. The women may seek the benefits they can get from the insurance that
includes status symbol, family safety, flexibility and stability of 1st of Women. This can help
1st for Women to create more personalized experience, for example they can identify
customers who purchase luxury goods more often and create a marketing campaign for
insuring high quality items and highlight the benefits of insuring such products. They may
launch a campaign for insuring handbags and items such as mobile phones that are inside
handbag and highlight on the recovering the same type of the product if they lost it due to
robbery or theft.
It is a marketing strategy to targets products or services on the basis of where the consumer
resides. Division maybe it terms of continent, countries, cities, regions, provinces or states
Customers’ choice is mostly affected with where they live. For example women in cities are
more likely to own luxury goods than in rural area. There is high risk of theft in cities than in
rural areas. 1st for Women when advertising they must target people in cities more.
Demographic
It divides the consumers market into smaller categories based on common demographic
factors such as age, gender, income, occupation, family structure, ethnicity and religion. For
example if the family structure large the women may prefer low-cost insurance and insurance
that covers bulk services. Income also communicate useful information about buying power
of targeted women, for example luxury insurance cover that caters only to the high-income
segments of women
Psychographic
Groups are formed according to psychological traits that influence consumption habits drawn
from people’s lifestyles and preferences, personality, social status, attitudes, activities,
interest and opinions.it comprehend the values, attitudes and beliefs of the target market. 1st
for Women must learn what women care for in order to create campaigns geared towards
those individual for example insurance campaign for luxury goods maybe created that doesn’t
cater for middle or low class.
Behavioral
It comprehend common factors such as purchasing similar products, sharing same hobbies or
beliefs. This helps 1st for Women to understand what women customers consider before
joining insurance. This determined more by the frequency in which women use the product,
this gives significance to women to make decision to insure the product for example if
women uses their hand bag less frequently maybe once a month from rural to town they don’t
see the importance of insuring the handbag if it is expensive.
Benefit sought
Categories customers based on the perceived value and advantage they can receive from
goods and service. The women may seek the benefits they can get from the insurance that
includes status symbol, family safety, flexibility and stability of 1st of Women. This can help
1st for Women to create more personalized experience, for example they can identify
customers who purchase luxury goods more often and create a marketing campaign for
insuring high quality items and highlight the benefits of insuring such products. They may
launch a campaign for insuring handbags and items such as mobile phones that are inside
handbag and highlight on the recovering the same type of the product if they lost it due to
robbery or theft.
