Target Market

There are many segments of a target market that are necessary to keep in mind when marketing a product. Segmentation is the process of dividing this market into smaller pieces based on certain characteristics of the market. There is segment by demographics such as age. Demographics are the observable aspects that differ in population.
Age demographics are usually solved by generational marketing. This is the marketing of members of a similar generation that tend to share priorities. There is also a segment differentiation for gender. Women generally have different desires in needs then men, but they also can be similar. This similar need would be a target to a metrosexual person. Metrosexual is a straight, urban male who is keenly interested in fashion, home design, gourmet cooking, and personal care.
Segment by demographics also are segmented into different types of family life cycles. People of different family life cycles are unlikely to need the same products. Income and social class is another demographic. Distribution of wealth is of great interest to marketers because it determines which groups have the greatest buying power. Ethnicity is another very strong indicator of preferences. Marketers need to be aware of the differences in ethnicity so nobody is offend.
Place of residence is also a very important demographic to pay attention to. Geodemography is a segmentation technique that combines geography with demographics. Geocoding is customizing Web advertising so that people who log on in different places will see ad banners for local businesses. Another segment is psychographics. Psychographics is the use of psychological, sociological, and anthropological factors to construct market segments. Segment by behavior is a useful study to figure out what consumers want to DO with a product. Behavioral segmentation is a technique that divides consumers into segments on the bases of how they act toward, feel about, or sue a good or service.