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.

It s dividing the market on some common basis such as age, education, gender, occupation etc.
Different bases includes:
People oriented market segmentation and product oriented market segmentation
1.people oriented market segmentation
a) geographic
b)demographic
c)psychographic
2.product oriented market segmentation
behavioral segmentation