Answer:
Segmentation strategies:
1.Global market segmentation:
This strategy is used to identify and group the customers or countries according to their needs and wants
Eg:Coca cola has identified and grouped both customers and countries
2.Demographic segmentation:
This strategy is bsed on the measurable population statistics such as age,gender,income,geography and occupationetc
Eg:Volkwagen and many other auto manufacturers have identified china as an attractive segment based on their population
3.Psychographic segmentation:
This strategy is used to categorize people into different segments based on their lifestyle or personality segments such as their common interests,activities,thoughts and opinions
Eg:Porsche established psychographic profiles of its US owners
4.Behaviour segmentation:
This strategy is used to segment people based on the purchase of the product such how much,how often and how loyally they use the product
Eg:Tobacco companies focus on China and Asian countries as the smoking population is high in these countries
5.Benefit segmentation:
This strategy is used to segment the market based upon the perceived value,benefit or advantages the customers perceive on purchasing a product
Eg:Mobile phone manufacturers like Apple benefit their customers with highly durable,advanced innovative technology phones
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