How is segmentation done by marketers? Explain briefly.

Market Segmentation is the process of dividing a large, heterogeneous market into smaller, homogeneous groups (segments) of consumers who share similar needs, characteristics, or behaviour.

Marketers segment the market using the following bases:

1. Geographic Segmentation — Dividing market by location: country, region, city, rural/urban. Example: Winter clothing sold more in North India.

1. Demographic Segmentation — Based on age, gender, income, education, occupation. Example: Toys for children aged 3-10 years.

1. Psychographic Segmentation — Based on lifestyle, personality, values, and social class. Example: Premium yoga wear for health-conscious consumers.

1. Behavioural Segmentation — Based on purchase behaviour, usage rate, brand loyalty, occasions. Example: Greeting cards marketed specifically for festivals like Diwali or Holi.

By segmenting the market, marketers can design targeted products and marketing strategies that better meet the specific needs of each segment.