what are the four bases of market segmentation
Market segmentation For example, although dress size is not a standard base for segmenting a market, some fashion houses have successfully segmented the market using women's dress size as a variable.[38] However, the most common bases for segmenting consumer markets include: geographics, demographics, psychographics and behavior. Marketers normally select a single base for the segmentation analysis, although, some bases can be combined into a single segmentation with care. For example, geographics and demographics are often combined, but other bases are rarely combined. Given that psychographics includes demographic variables such as age, gender and income as well as attitudinal and behavioral variables, it makes little logical sense to combine psychographics with demographics or other bases. Any attempt to use combined bases needs careful consideration and a logical foundation.
VALS VALS ("Values and Lifestyles")[1] is a proprietary research methodology used for psychographic market segmentation. VALS is a way of viewing people on the basis of their attitudes, needs, wants, beliefs and demographics. By using psychology to analyze and predict consumer preferences and choices, the VALS system constructs a link between personality traits and buying behavior.The system identifies current and future opportunities by segmenting the consumer market place on the basis of the personality traits that drive consumer behavior[2]