Market Segmentation

Mar ket Se gmentation Age, Life Cycle, Social Group, Lifestyle.

Market Segmentation  Allows organisations to slice up the market into groups and therefore target products at customers more effectively.

Age  Products for older people  Products for younger people  Products for Kids  E.g. Holidays

Lifecycle         

Young singles Newlyweds/people living together Full Nest1 Full Nest2 Full Nest3 Empty Nest1 Empty Nest2 Solitary Survivor Task*** in pairs work out what these mean…

Social Group      

A B C1 C2 D E

Lifestyle    

Mainstreamers Aspirers Succeeders Reformers