Learnt about Market Segmentation. That can be segregated as Geographical Segmentation and Demographic Segmentation. Demographic segmentation is also distributed into 3 further factions namely – Age and life cycle stage, Gender segmentation and Income segmentation.
It is necessary to separate consumers so as to identify target groups.
For segmenting international markets, it is the same but also includes political and legal factors and cultural factors.
Effective segmentation should be measurable, accessible, substantial, differentiable and actionable for it to work out.
The class was very interactive as always. We also wrote about the positioning statement based upon the product my group had decided.
Learning portfolio 