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Introduction.

Market segmentation refers to the process of dividing markets into several groups of consumers who have similar characteristics and interests. These types of customers give a similar response to different market activities. A target market is used to describe a group of potential customers who exhibit interest in the commodities and services produced by a particular seller or organization(Gupta, 2003). There are different types of market segments organizations would target. Ortez visibility jackets producers would focus on three different types of market segments to target.

Description of each of the market segments for Ortez visibility jackets, and characteristics of each segment.

These market segments include geographic, behavioral, demographic and psychographic. The main place of focus for the visibility jackets would be geographic, demographic and behavioral segmentation. Geographic market segments focus on the location of customers. The visibility jackets main customers will be the people living and working in places where these products are needed.Demographicneeded. Demographic market segments involve market division on the basis ofbased on age, sex and the family size of the consumers. Behavioral segmentation involves division of customers based on their purchasing decisionsdecisions (Goldstein, 2007). For the Ortez visibility products, the company would segment customers for example by categorizing them by age due to their different purchase decision making criteria.

Physiographic variables.

Psychographic market segments focus on lifestyles. This involves paying close attention to customer’s socio economic class. Low income customers are not grouped together with the high income earning group of people. This is because of their different purchasing powers and frequencies. The preference on the type of product by customers is highly determined by the product quality and promotion methods used to entice the high income earners in the society. Ortez jackets are demanded by the high income group of individuals. This is mainly because of their prices hence are not always easily affordable by low incomelow-income earnersearners (Eric, 2004).

References

Gupta, S. (2003). The Strategic Value of Customers in the Long Run. New Jersey: Wharton School Publishing.

Goldstein, D. (2007). What is Customer Segmentation? New York, Cambridge University Press.

Eric, K. (2004). The New Language of Consumer Behavior. New York: Routledge publishers.

Daniel, the assignment is to describe the market segments for your business/product.