Market segments

A market segment is an identifiable group with simalar needs and wants within a market

-firms adjust their markets accordingly to needs of consumer

- it is a way to divide the market

• age (product aims what age)
• gender
• income
• socio-economic groupings (income and job)
• usage rate (how much will use product)
• purchase occasion
• demographic (consumers put in cateogories *specific group)
• pschyographic (behaviour)