key term - Benefit segmentation

Definition

Benefit segmentation is a marketing strategy where the market is divided into distinct groups based on the specific benefits that consumers seek from a product or service. It focuses on understanding and catering to the different needs or desires that motivate consumer purchases within various segments.

Related terms

Market Segmentation:

The process of dividing a target market into smaller, more defined categories of consumers who share similar characteristics and buying behaviors.

Target Market:

A specific group of consumers at which a company aims its products and services, identified through various demographic, psychographic, and behavioral traits.

Consumer Behavior: The study of individuals and organizations and how they select, use, and dispose of goods, services, experiences, or ideas to satisfy their needs and wants