SEGMENTATION ANALYSIS: Splitting Segmentation Resulting Segments Target% Advantages DisadvantagesGeography • Location• Market Size• Market Density• Climate 40% • Effective approach with limited budgets• Works well in different areas of population density or significant changes in lifestyle in various regions • It is quite limited as it assumes that all consumers have similar needs Demographics • Age • Gender • Income • Social class 30% • It is simple to apply and use, as government statistical data is readily available available in most countries • It is easy to understand for everyone from management to customer service staff • There is very little understanding of the consumer • Consumers in the same demographic group would have similar needs Psychographic • Personality • Values • Attitudes• Lifestyle 10% • Provides much better insight into customer identification of underlying needs and motivations • By understanding the customer, we could improve our segments • This approach requires detailed customer data • The improvement of segments is not easily accessible Advantage • Benefits sought ...