What Is Market Segmentation And Its Bases?

Market segmentation is the process of dividing the market into different segments acording to the tastes and preference of the consumers. There mainly 4 important bases of market segmentation they are
- psychographic segmentation
- behavioural segmentation
-geographic segmentation
-demographic segmentation
let us take the fist one
1) psychographic segmentation:
Here the buyers are divided into groups on the basis of the life stlye or personality or values.
2) behavioural segmentation:
Here the buyers are divided into different groups on the basis of teir knowledge of, attitude towards, use of, or response to a product.
3) geographical segmentation:
Here the markets r divided into different geographical units as such nations, states, territories etc,
4) demographic segmentation:
The market is divided into segments based on the variables such as age, family size, sex, religion, race, generation and social groups.

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