It is the dividing a market into different geographic units such as nations, states, regions, countries, cities or neighbourhood. With regards to Holland Village HÃÂ¤agen Dazs, it is divided into different neighbourhoods and different learning institutes. Easy accessibility to the neighbourhood, tertiary institutes and city area gives rise to the potential markets HÃÂ¤agen Dazs can target based on these different geographic areas. People coming from these areas, whether from school or from work, form the segments of the consumer market. Customers coming from different areas have different characteristic or buying behaviour. For example, people living in the nearby neighbourhoods such as HDB flats or bungalows form one segment of the market. People studying in the tertiary institutes such as Singapore Polytechnic, SIM, NUS form another segment. Another segment includes people coming from the city area and they may be students or working professionals.
It is the dividing the market into groups based on demographic variables such as age, sex, family size, family life cycle, income, occupation, education, religion, race and nationality.
Under demographic segmentation, the consumer market can be segmented according to age and lifecycle stage, gender and income of consumers. Customers come from all walks of life and different ages as well. Customers can be divided into the young and trendy young adults and the more mature customers such as working professionals. Customers of HÃÂ¤agen Dazs Holland Village consist of both male and female Women have been known to have stronger preferences for ice cream than men. Income segmentation divides the market into different income groups. Customers are classified into the affluent and lower-income earners. Due to its pricey ice cream, HÃÂ¤agen Dazs Holland Village can target its sales on the affluent customers like the working professionals or people from the expatriate's community and attract...