Which are the important segmentation methods? Explain each one of them briefly with examples?
Following are the Segmentation Method ;
1. Geographic Segmentation
Geographic segmentation is beneficial for a large-scale campaign execution when the product to be promoted is largely understood and needed by a wide and diverse group of consumers. Segmentation of this type generally focuses on locating a center point, such as a branch, and radiating from that center point in terms of miles, census tract, ZIP Code, or a predetermined radius. This approach is also beneficial when the socioeconomic status of the individuals within the geographic segment is similar. The negative aspect of geographic segmentation is the assumption that everyone with the geographic footprint is identical, displaying the same predictors of behavior. An exception to this rule are the banks which use geography as part of their SEO/SEM strategy and highly target based on radius plus the appropriate demographics. This strategy can focus on the collection of email addresses in exchange for email offers where the direct response can be tied _____ _____ ____ _______ _______ ________ __________ ___ ____ _______ _________ ____.
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