AUTHORS: Russell I Haley SOURCE: Benefit Segmentataion: A Decision-Oriented Resarch Tool, Journal of Marketing, American Marketing Association, Volume 32, July 1968, pp. 30-35
SUMMARY:
Several varieties of markets segmentation have been popular in the recent past years. The first type that is used for segmentataion is geographic segmentataion. The second type, demographic segmentataion, has become more popular as more brands become national. The last type is volume segmentataion. All these three methods were very useful at past but they rely on descriptive factors rather than causal factors. A new approach for market segmentation might be called as benefit segmentataion. The purpose of this segmentataion strategy is the benefits, which people are seeking in consuming a given product, are the basic reasons for true market segments. Benefits determine consumer behaviour much more accurately than demographic characteristics or volume of consumption. We can not say the old three ones are not useful but they mostly rely on specifacations whereas benefit segmentataion emphasize needs. It would be advisable for firms to behave according to the benefits of the consumers while they lead the market.
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