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Problem

List identifier segmentation variables and response profile segmentation variables.

Step-by-step solution

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Step 1/3

Market Segmentation divides a market into small groups of customers with the similar interests and needs.

Step 2/3

There are two main types of segmentation variables: identifier variables and response profile variables.

Identifier Segmentation Variables:

1. Demographic: Age, gender, income, education, and occupation.

2. Geographic: Region, city size, climate, and proximity to major transportation hubs.

3. Psychographic: Values, attitudes, interests, and lifestyle.

4. Behavioral: Purchase history, brand loyalty, and usage rate.

Response Profile Segmentation Variables:

1. Benefits Sought: The specific benefits or solutions the customer is seeking in a product or service.

2. Attitude Toward Product: The customer's overall evaluation of a product or service.

3. User Status: Whether the customer is a current user, non-user, or potential user of a product or service.

4. Usage Rate: How often the customer uses a product or service.

Step 3/3

Understanding the different types of segmentation variables is crucial for businesses to effectively segment their target market. By using the appropriate variables, businesses can develop more targeted marketing strategies, increase their conversion rates, and ultimately grow their business.