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It includes (but not limited to):
o Political / Legal – change in government regulations
o Economic – recession, inflation
o Social – stigma towards certain product
o Technological – advancement in technology or new inventions
o Demographics – change in the demographic landscape e.g. more aging
population
(2) Identify the Target Customer Segment(s) and their Needs / Demands
?? Key segmentation variables & bases:
o Geographic – country, region or climate
o Demographic – age, life-cycle stage or family size, gender, income,
education, occupation, religion and race
o Psychographic - social class, lifestyle and personality
o Behavioural – occasions, benefits sought, user status, usage rate and
loyalty status
?? May combine more than 1 segmentation variables to better define segments
Note: If you had selected a large organization e...
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