i) Market Segment:
A market segment consists of a group of customers who share a similar set of needs and wants. The marketer does not create the segments; the marketer’s task is to identify the segment and decide which one(s) to target.
(4 marks)

ii) Geographic Segmentation:
Geographic segmentation involves dividing the market into different geographical units such as countries, regions, cities, or neighborhoods. The company can operate in one or a few areas, or operate in all but pay attention to local variations.
(4 marks)

iii) Demographic Segmentation:
In demographic segmentation, the market is divided into groups based on variables such as age, family size, family life cycle, gender, income, occupation, education, religion, nationality, and social class. Consumer needs, wants, usage rates, and product and brand preferences are often associated with demographic variables, which are easy to measure.
(4 marks)

iv) Psychographic Segmentation:
Psychographics is the science of using psychology and demographics to better understand consumers. In psychographic segmentation, buyers are divided into different groups based on psychological/personality traits, lifestyles, or values. People within the same demographic group can exhibit very different psychographic profiles.
(4 marks)

v) Behavioral Segmentation:
In behavioral segmentation, buyers are divided into groups based on their knowledge of, attitude towards, use of, or response to a product. Many marketers believe that behavioral variables—occasions, benefits, user status, usage rate, loyalty status, buyer-readiness stage, and attitude—are the best starting points for constructing market segments.
(4 marks)