Now this becomes a segment with a desire to be fulfilled. Similarly, nightclub goers may wish to have counters where they can safely keep their overcoats /jackets. Such parameters are considered for providing specific products or services that motivate these groups to consume the offerings. This set of working women can be further subdivided in terms of their income or age or lifestyle. Now this group called working women becomes a segment to satisfy. Segmentation can be achieved through examining the differences in the dimensions of- demography, psychography and behavioural.įor an example: Working women may aspire for quick recipes or easy-to-handle appliances etc. These groups of customers are the market segment that the business wants to cater. Business models are made to satisfy these unfulfilled needs and wants. Customer-centric businesses first identify the groups of customers and then study their unfulfilled requirements. In a modern day Marketing Concept the focus is customer.
Spotting and choosing customer segment for a product is an old Production-Oriented concept where the chain is as follows:
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