what is the difference between product segmentation and market segmentation?

7 years ago - 1 answers

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MArket segmentation is you divide the market in to homogeneous segments. this can be done in several ways.
1. Demographic - Eg: personal income, gender, Age etc
2. Geographic - based on where you live, where you shop etc
3. life style - based on certain life styles of the ppl

Product segmentation is where you segement different products int he same category in to different segments based on the characteristic of the products

example: take the product vategory as cars
BMW is a sporty but luxuiors segment
Merc is a luxurious business class segment
Volvo is a luxary but safty segment
Porche is a premium sporty segment likewise

7 years ago