Demographic Segmentation

Demography refers to study for about the different aspects of the population. Markets can be divided into demographic factors like age, gender, education etc. The various demographic factors are :

Demographic Segmentation

  • Age

The primary method of analyzing markets by age is to divide the total population into age groups and analyze the wants and needs of each group.

  • Gender

Marketers devote much attention to male and female differences in Today, marketers segment female groups into college girls, working women, housewives. etc. Again, male groups can be further classified.

  • Income

Buying patterns depends on the income of the consumers. No two individuals or families spend money in exactly the same way. If a researcher knows a person’s income, he can predict with some accuracy wants and needs of that person and how those wants are likely to be satisfied.

  • Education

The market can be segmented on the basis of education matriculation or less. undergraduates, graduates, post-graduation, etc. Most studies show that the highly educated people spend more than the poorly educated in respect of housing, clothing, recreation, etc.

  • Family Size

The consumption patterns of certain products definitely vary with the number of people in the household. Manufacturers of certain products such as ice-cream market family packs.

  • Family Life Cycle

The market can be segmented as bachelors, newly married with grown-up children, older married couples, etc. For selling tours and vacations. Life Insurance policies etc., this segmentation is of use.

  • Race and Religion

Consumption patterns of certain products differ on the basis of religion and race, such as alcohol and meat products.