Determine the market segmentation Marketing essay
In conclusion, geographic segmentation is a powerful strategy in modern marketing. It helps companies better understand and connect with their audiences. By dividing markets based on location and tailoring marketing efforts, companies can achieve greater success and build stronger relationships with customers. Geographic segmentation: grouping customers based on their physical location. Behavioral segmentation: grouping customers based on their previous actions, such as spending behavior, browsing behavior and brand engagement. The premise is simple enough, but the key to successful market segmentation is understanding, Porsche. Another striking example of the link between STP and success is found at Porsche, a car brand active in the luxury market. The segmentation strategy adopted by the brand used a combination of psychographic and demographic variables to study the market and determine target audience segments.