4 Main Types of Market Segmentation & Their Benefits

What is Hurree?

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Market segmentation is the process of dividing and grouping your users based on commonalities and shared characteristics, like interests, needs, wants and motivations. The aim of market segmentation is to enable brands to better target their products, services or content, making sure they reach the right users, in the right place and at the right time.

The 4 main types of market segmentation are as follows

#1 Demographic segmentation.

Arguably the most basic of the segmentation types, demographic segmentation divides users based on variables like age, gender, income, occupation, education level, marital status, religion or nationality. And it’s usually where brands begin in the segmentation process. This is because the info is easy to collect, simple to measure and analyze, and it’s cost-effective. Although, it has been criticised for being vague and not taking into account the needs and wants of individual consumers.

#2 Geographic Segmentation
Geographic segmentation basically groups users based on their geographic details. The 5 key areas that marketers take into account when segmenting geographically are:
Location, Urbanicity, Climate, Culture and Language.

#3 Behavioral segmentation.
Behavioral segmentation groups users based on their actions. This could be in a store, on a website or in an app. Behavioral data tends to be gathered and analyzed through algorithms or tools like Google Analytics. Behavioral data collects and tracks things like a user’s ‘dwell time’ on a website, a website’s bounce rate, online or in-store actions, communications with the brand and whether they are new or returning users.

#4 Psychographic segmentation.
Arguably one of the most subjective and difficult to quantify, but also the most valuable. Psychographic segmentation focuses on a user’s psychological attributes, such as personality, values, attitudes, opinions, interests and lifestyles. Psychographics offer such a personal look into what consumers like, dislike, need, want and love.

That being said, psychographic information is definitely the most difficult to collect and analyze. Marketers must also make sure that information is interpreted properly, and for the right reasons.

Now these aren’t mutually exclusive, multiple segmentation types can be used together and can really complement each other, drawing actionable insights for more accurate segmentation and analysis.

Overall, segmentation helps to focus marketing efforts, making sure products, services and campaigns are streamlined and delivered to the most appropriate audience for that brand.

Each segmentation type will have its benefits and its drawbacks. So it’s important to always remember to respect the privacy of your users, and make sure you’re transparent in your endeavors.

Finally, we’d like to hear from you. Are you going to start using segmentation in your marketing strategy? Or maybe you’d like to share some of your own info that we might have missed. Let us know by leaving a comment below.

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#marketsegmentation #marketingstrategy #digitalmarketing #psychographicsegmentation

[sabariraagavan]

I swear Youtube is where I've done most of my education. Great vid!

[michaelscott]

I love that this video shows both the purposes of each segmentation type as well as the benefits, uses, and potential drawbacks. Thanks Hurree

[christinealcorin]

Hi! Just started my postgrad studies on Marketing and this has really helped as I’m a newbie! Thank you for making my research simpler and easier to understand! subscribed 😌

[theinquirechannel]

Psychographic segmentation is so interesting! There are so many creative ways to divide a market. Thanks for creating this video for us :)

[dionisiomiguelangeloc.]

Hi!! Thank you so much for this. I have a class report for tomorrow about market segmentation and this one really helped me. Thank you

[andrewbray]

Excellent. So clear and presented in such a natural and warm way. I will share with my local government clients that are using segmentation more often these days.

[jeromeboyce]

Hi! I just started and introductory course in Sale and Marketing and this video was very helpful to me in understanding segmentation and their benefits. Thank you

[kuldipmishra]

Finally i understood the concept of this . Thank you for this video.
It will be more helpful if you make a video on Pricing Policy.

[queenclashofclans]

This topic was really helpful. Your confidence was brilliant I learned and enjoyed a lot. Thanks

[lyubovfdv]

Love this video, it is so structured! I am impressed!

[FarzanItis]

This i the best video on this topic i hope you guys keep making more such videos and the host is extremely intelligent and articulates effortlessly

[janeaustentv]

Brilliant clear, concise and to the point presentation. I’ll check out your website!

[fabrice]

Hello this is Fabrice from Rwanda.
I really appreciate you this video is very helpful and you are talented keep forward

[Teackboot]

wow, This lesson is very helpful, thank you, much appreciated !!!!..

[elizabethjamie]

Thanks a lot for helping me out. The vid was very helpful coz I've jst started studying marketing. Looking forward for more vids from you

[yashhwamiridza]

i wish i could like this video twice, thank you

[preciouschilwesa]

This is quiet beneficial!! I would like to know more of segmentation procedures

[johngibson]

Thanks. Kindly keep dropping some more marketing insights

[ayushgupta-keob]

Thank you so much I learned alot from this video 👍🏼

[sibangilizwenyathi]

That was great, also need the criteria for evaluating customer segment