Market Segmentation Clearly identifying your target customer so you can customize product offerings and marketing strategies. Market Segmentation Demographics Psychographics Geographics Market Segmentation Demographics Facts and statistics about your customer Demographics Age Gender Income Marital Status Occupation Ethnicity/Race Education Occupation Psychograpics Grouping people based on social and psychological characteristics Psychographics Values Attitudes Lifestyle Opinions Self-concept Activities Psychographic Examples News junkie Gardening geek Style maven Sci-fi worshipper Do-it-yourselfer Coupon clipper Animal lover Speed demon County music buff Cartoon connoisseur Comedic genius Weather nut Gourmet devotee Gossip guru Football freak History enthusiast Geographics Segmentation of the market based on where people live Geographics Region Population Density Continent Urban Country Suburban State Rural Neighborhood Climate Cold Warm Rainy Snowy Macy’s Guest Profile At Macy’s, we refer to our core guest as the Zoomer. A subset of the baby boom generation, the typical Zoomer is female, age 40-60, with an average annual income of $70,000. She tends to be a professional, living in either an urban setting or the suburbs. Comfortable and confident in who she is, she wants to feel healthy, young and active. Even though she’s pressed for time, she values staying connected with family and friends. And she view age 50 as the new 30. Target’s Core Guest 45 Years Old $55,000 Average Household Income 79% Attended College 80% Female 41% with Children under 18 years old Upscale Discounter Profile compares to the department store customer Because they are educated, they recognize value (Best guests come in an average of 26 times per year) Best Buy Customer Centricity Ray—The core customer as most stores. A family man. Not an early adopter of new technology but he wants good equipment at a reasonable price. Best Buy’s goal is to prevent Ray from going to Wal-Mart or other competitors Best Buy Customer Centricity Jill—Suburban soccer mom who usually hates to shop at Best Buy. Stores that cater to Jill are not as loud, feature softer colors, includes a kids’ technology section, and offer personal shopping assistant service. Sales associates trained to avoid using intimidating words (gigabytes, megapixels) Best Buy Customer Centricity Barry—This affluent male professional wants high-end home theater and other digital offerings. Stores that cater to Barry offer specialized financing plans, home consultation services and same-day delivery and installation. Leather couches added to some stores to create a comfortable environment for watching large-screen TVs and listening to high-end sound systems. Best Buy Customer Centricity Buzz—The young male technophile who wants cutting edge video and technology products. Stores that cater to Buzz feature early-adopter technologies and places to try them out, including sofas and flat-screen televisions for testing video games and consoles. Best Buy Customer Centricity Small business customer—This as-yet- unnamed customer relies on Best Buy to keep his or her business running. Best Buy personnel called Business Pros will help advise on the selection of equipment.
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