What is consumer based market segmentation?

Answer by  partibreaker (87)

This term is usually used in marketing and in lames terms this means: Dividing the market of smaller parts, where each part contains people who have something in common/ some same characteristics. So this means that the company is focused on one market segment ( serving the needs of one group e.g. teenagers, women, man, etc.)

Answer by  Kbrece (107)

The basic idea here is that a market is divided into more manageable and smaller parts. The parts that the market is divided into will have people that have common traits. This is utilized by a Company in order to assist in then focusing on one market segment. Meeting the wants and needs of this one group is easier.

Answer by  blrVoice (1054)

A consumer based market segmentation means that the target market is divided into segments according to consumer related criteria such as age, gender or price. For example the one and same product varied in color or design can appeal to more consumers e.g. lunchbox with spiderman print for boys, pink colored ones for girls, plain colored ones for adults, etc.

Answer by  tamarawilhite (17883)

Market segmentation divides up consumers into groups based on interests, wants and needs. Consumer based market segmentation breaks up young families from retirees, college students from single parents, those starting households to those downsizing. It breaks up the population into segments, determines the size of the segment, then compares the marketing that appeals to each segment.

Answer by  helol25 (680)

Well basically it's based on the consumers and what their market segments are. For example: a type of coffee will be segmented to one group of customers that is wealthy and can spend money on coffee. For example starbucks doesn't just target to anyone. They have a market based segmentation.