In the broadest sense of the term, market segmentation as a strategy has been with us as long as marketing itself. Essentially, it hinges on the principle that consumers are not all alike, and utilises that principle in the sale of merchandise. Until about ten years ago, segmentation research was based largely upon simple cross classification by demographic characteristics or purchase behaviour. During the 1960's, however, major research interest and emphasis has focussed upon new, more powerful, and hopefully more meaningful ways of partitioning markets based upon attitudes held by consumers.
Author: Alexander L. Biel
September 1, 1992
Author: Ian D. Greig
June 15, 1998
- This could also be of interest