In which marketing type the marketers focus on small but specific markets which have explicit set of customers with same tastes and preferences.
Answers
Explanation:
Demographic segmentation is one of the most common forms. It refers to splitting up audiences based on observable, people-based differences. These qualities include things like age, sex, marital status, family size, occupation, education level, income, race, nationality and religion.
Segmenting a market according to demographics is the most basic form of segmentation. Combining demographic segmentation with other types can help you to narrow down your market even more. One benefit of this kind of segmentation is that the information is relatively easily accessible and low-cost to obtain.
Some products are targeted explicitly towards a specific demographic. One personal care company, for example, might make two deodorant products — one labeled as men’s deodorant and one labeled as women’s deodorant.
Automotive companies often segment their audience by income and market different makes and models of cars to each segment. One company may have a luxury brand, an economy brand and a mid-range brand.
There are numerous ways to gather demographic data. One way is to ask your customers directly. This can be time-consuming, but getting the information directly from customers will help ensure its accuracy. If you go this route, be careful to be respectful in how you ask and give customers sufficient response options so you get accurate results. You may also be able to obtain demographic data directly from customers by looking at social media and other online profiles where they may provide information about themselves.
You can also get demographic from second-party and third-party data providers including marketing service providers and credit bureaus. Public records, such as those kept by the U.S. Census Bureau and the U.S. Postal Service, can also provide useful information.
Collecting this data in a data management platform (DMP) will help you to organize it and use it to target your marketing campaigns or content personalization efforts.
Segmentation marketing type