About This Chapter
Market Segmentation - Chapter Summary
Ensure you get the gist of market segmentation concepts by taking advantage of the many resources available in this short chapter. Lessons provide a comprehensive overview of topics that include psychographic segmentation, benefit segmentation, geographic segmentation and PRIZM. Access these lessons along with self-assessment quizzes and a chapter exam from any computer or mobile device. Use the Ask Our Experts feature in the Dashboard to expand your market segmentation knowledge. After completing this chapter, you will be ready to do the following:
- List four types of retail segments, and discuss how retailers reach their target markets
- Explain the reasons market segments are important to marketers
- Identify and describe five ways markets can be segmented
- Define psychographic, demographic, geographic and benefit segmentation in marketing
- Describe the step-by-step process of segmenting business markets
- Share the meaning of PRIZM, and discuss how this program is used for market segmentation
- Discuss the uses of cluster analysis market segmentation
1. Retail Segments, Target Markets and Marketing Strategies
In this lesson, you will learn how to identify four different retail segments and gain an understanding of how producers of goods and services use different types of retailers to reach the different target markets that buy their products.
2. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
3. Market Segmentation: Geographic, Demographic, Psychographic & More
Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.
4. Psychographic Segmentation in Marketing: Definition & Examples
Purchases often relate to lifestyles and interests. In this lesson, you'll learn about psychographic segmentation in marketing and be provided some examples. You'll also have a chance to take a brief quiz after the lesson.
5. What Is Demographic Segmentation in Marketing? - Definition, Advantages & Disadvantages
There are ways to target a specific market for your product or service. Demographic segmentation is one of the ways to target a specific group of consumers. Read on to learn more about demographic segmentation and its advantages and disadvantages.
6. What Is Geographic Segmentation in Marketing? - Definition, Advantages & Examples
During your travels across the country, you may have noticed that store shelves are not stocked exactly the same. In this lesson, you'll learn about geographic segmentation and its advantages. A short quiz will follow.
7. Benefit Segmentation in Marketing: Examples & Overview
Consumers often make purchases based on the value or advantage that they believe a product will provide. In this lesson, you'll learn about benefit segmentation and look at some examples. A short quiz follows the lesson.
8. How to Segment Business Markets Step-by-Step
Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.
9. Using PRIZM for Market Segmentation: Definition & Advantages
The PRIZM program used for market segmentation can be a valuable tool for business owners and marketers. In this lesson, you'll learn more about PRIZM and some of its benefits.
10. Cluster Analysis Market Segmentation: Definition & Examples
Companies often want to see how well they are doing with their products and their customers, and sometimes they even want to look at the segmentation of the markets in which they participate. In this lesson, we'll learn how a company can do both.
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Other chapters within the TECEP Advertising: Study Guide & Test Prep course
- Overview of Advertising Management
- Overview of Integrated Marketing Communication
- Fundamental Marcom Decisions & Target Marketing
- Fundamental Marcom Decisions & Positioning
- Fundamental Marcom Decisions & Marketing Objectives
- Creating & Assessing Ad Messages
- Media Planning & Analysis in Advertising
- Internet Advertising
- Sales Promotion Techniques
- Marcom Tools
- Ethical, Regulatory & Environmental Advertising Issues
- TECEP Advertising Flashcards