Segmentation

Demographic Segmentation: 
In demographic segmentation, the market is divided into groups on the basis of variables such as age, gender, income, occupation etc; these demographic variables are so popular with marketers so that they are often associated with the consumer’s needs and wants. Segmentation variables are easily measurable. Here are the demographic variables have been used to segment markets. The companies target audiences primarily are the bachelors, youth and the professionals Red Bull segments its customer base by age as follows
– Age
16 to 30 years – they account for the major share of the customer base
Below 16 – They account for most of the sales of their other line of products of red bull soda.
Middle age and elderly – red bull came out with zero calorie and special edition (cool breeze) for the elderly tastes.
– Gender: They mainly target males, although females are a part of their customer base 
– Income: Red bull associated a certain luxury with their brand name and hence caters to a segment that is ‘well off’ in terms of income.
– Occupation: Students, working professionals, sports enthusiasts, athletes
Psychographic Segmentation:
It is the science using psychology to better understand the psychology of the consumers. With the changing marketing, Red Bull continuously tries to cope up with the new trends and come up with new flavors and offers to attract more customers.
Psychographic segmentation buyers are divided on following ways:
 
  * Lifestyle: Business class, working class executives, students
  * Personality: ambitious, open to experience.
  * Occasions: Regular, special.
  * Benefits: Quality,
  * User status: regular user
  * Usage rate: medium
  * Loyalty status: medium Loyal
  * Readiness stage: intending to buy
  * Attitude toward product: enthusiastic
 
Geographic Segmentation:
Geographic segmentation is done using the spatial location to segment the market. In geographic segmentation there are...