4 Factors for segmenting consumer markets

The first ever examples of segmentation were very rudimentary and simple – age and gender. In today’s marketing toolkit we see many more ways we can do this exercise. The information that we capture, also known as the segmentation variables, is more varied and detailed and is made available for analysis in much larger quantities. We no longer have to ask people if they wish to share their personal information when transacting with us, we make it compulsory for them to create accounts before the purchase is even completed. There are four broad groups of segmentation criteria we can apply to the market: