A New Methodology for Measuring Market Potential and for Determining the Validity of Existing Market Segments Page: 42
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42
1. Geogr ayh i c a 1 s egxue a t a I; ion—a division
of the- market by regions and by a rural or urban
classification.
2. Cultural segment.atiori-—developing the
market on the basis of race, language, or custom.
3. Economic segmentation—division of the
market based on education, income, occupation,
or family size.
4. Personality differences among individ-
uals—This would include the basic psychological
differences present in consumers. The differences .
are often affected by the age, sex, and educa-
tional levels of the individuals.^-'
Phillip Kotler uses four basic divisions which are
(1) the socioeconomic and cultural basis, (2) the geographic,
(3) the personality, and (4) the buyer behavior basis.
Table I illustrates Kotler's basis of segmenting markets in
its entirety.
Alfred Oxenfeldt uses a method of segmenting markets
based on what management can do to influence the consumer's
decision rather than on a basis of consumer characteristics
or geography. He states that the most important criteria
for segmenting markets are as follows:
1. The strength, of the consumer's need
or.desire for the product. :
2. The marketing channels (media, distribu-
tion outlets,, etc.) through which consumers can
be reached.
3. "Appeals" or lines of argument to which
consumers are responsible.
4. The various degrees of responsiveness
to particular types of sales appeal that is,
the consumers' ability to be influenced by price
considerations, availability of credit, talk of
salesmen etc.
5.' Physical location."
I? .• i o
lb -id. , p. 31. " Oxenfeldt, p. 38.
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Anderson, Robert Lee, 1940-. A New Methodology for Measuring Market Potential and for Determining the Validity of Existing Market Segments, dissertation, August 1971; Denton, Texas. (https://digital.library.unt.edu/ark:/67531/metadc164459/m1/53/: accessed July 16, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; .