Bases for segmentation Knowledge of lifestyle can provide a very rich and meaningful picture of a person. Psychographic Segmentation: Dunkin Donut’s brand image and premium pricing will attract Innovator, Thinker, Achiever, and Experiencer in terms of segmenting the market based on Psychographic Segmentation. This data analysis allows for a careful segmentation of Starbucks’ target market. A. Demographic Segmentation: Demographic segmentation divides the markets into groups based on variables such as age, gender, family size, income, occupation, education, religion, … Psychographic segmentation divides a market into segments based on emotional, values-based, or interest-based characteristics. MARKET SEGMENTATION Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market. Oftentimes a firm uses multiple bases to … As of 2009, America claimed 307,006,550 inhabitants within the area of 79.6 (US Census Bureau 2010). Psychographic segmentation divides the audience basing on their personality, lifestyle and attitude. A segmented market is valuable. First, we will introduce 85 degrees C.It is Taiwan-style catering company, mainly engaged in supplying coffee and dessert. Psychographic bases. Unlike psychographic traits, behavioral segmentation is a good starting point for small businesses. Using Psychographic Segmentation. Bakeries that cater to such unique requests are pursuing what kind of targeting strategy? ... with La Boulange, a San Francisco bakery, to offer premium snacks, meals, and baked goods, all decked out in La Boulange’s trademark light pink (Exhibit E). The global bakery product market size was estimated at USD 203.8 billion in 2018 and is projected to expand at a CAGR of 3.2% from 2019 to 2025. Most customer bought food from bakery just only for side dishes. Besides that, America is a very urbanized population with 81% residing in cities. Usually,bakery food also one of important food daily for save time to be served. Price is one of more important factors in determining market segmentation, as it influences the consumer to buy the goods. Consumers must be grouped according to various categories (market segmentation) based on some similarity or commonality. Bakery business plan Introduction We want to open a bakery likes 85 degrees C in the Songjiang University Town around our school. They want a cake that will represent their individual styles and tastes. This segmentation process works on a premise that consumer buying behavior can be influenced by his personality and lifestyle. A person’s pattern of interests, opinions, and activities combine to represent his or her lifestyle. It is important to understand that just because a consumer belongs to a certain demographic group that they do not necessarily believe in or follow the customs, culture, or beliefs that are representative of the generation, gender, ethnicity, or other characteristic that describes them. Lifestyle is the key element on which businesses focus when segmenting based on psychographic characteristics. Market segmentation criteria of psychographic nature allow to divide the market into segments based on variables such as social class, lifestyle and personality. For example, among human beings, males are one demographic and females are another demographic. Demographic segmentation is often the first step in creating customer profiles that help you make better products, messages, and close deals. This segmentation is based on places or locations where consumers reside. Dunkin Donuts key market segments are student, worker, kids and families. This will appeal those looking to stay thin and healthy or… Segmentation is an important activity for a brand or product. Advertisement. Innovator customers always want to take something new while an achiever look for expensive products with cultivated unique taste. Increasing consumption of ready-to-eat foods across the globe owing to hectic lifestyle is expected to fuel the product demand over the forecast years We will divide our marketing campaign into two main areas. The first is a projection of nature conservancy, support for green energy measures, recycling and a healthy lifestyle. Segmentation and Target Market Paper. Market Segmentation. Psychographic segmentation is segmenting a market … 3.0 Market Segmentation in the Dessert Food Service Industry. Here, market segmentation calls for dividing the market into different geographical units, such as nations, states, regions, cities, climates, urban/village, etc. Multiple Choice What is Lifestyle Segmentation? Psychographic Segmentation A very complicated way to segment the market is through using psychographics. define a markets and positions their products and services, this is Psychographics segmentation. Lifestyle segmentation is a type of segmentation strategy that categorizes the customer information into small sub-groups. This kind of strategy allows for appropriate allocation of resources proper adjustment of marketing mix. Pet lifestyle, or psychographic, segmentation is a powerful strategy that moves beyond differences between pet owners and non-pet owners and between dog versus cat owners to segmenting U.S. pet owners into meaningful groups based on their attachment to, attitudes toward and … This preview shows page 7 - 10 out of 23 pages.. Demographic Segmentation Geographic Segmentation Bases Variables Bases Variables Age We produce different types of products for different aged people. The pet product market is most easily segmented by age, as spending on pet products varies significantly with age. There are three groups in geographic segmentations. The companies normally segment the market into demographics, geographic, psychographics, and behavioral things. _____ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characterisitcs psychographic P&G was among the first to use ________ segmentation when it introduced Secret, a deodorant brand specially formulated for women's chemistry. ACTUALIZERS: Value personal growth. Psychographic Trends. There are various ways to segment a market: Geographical segmentation, lifestyle or psychographic segmentation, distribution segmentation, price segmentation and demographic segmentation, just to name a few. Marketing Goals & Objectives - Beantown Bakery attempts to convey a green, fresh and healthy lifestyle. Married couples without children at home, most of them empty nesters, spend 30 percent more than the average household on pets. Behavioural Market Segmentation Behavioural market segmentation divides a market into segments on basis of consumer knowledge, attitudes, uses or responses to a specific product.