Recommend marketing mixes for two different segments in consumers markets

Market segmentation: Market segmentation is the practice of dividing a market into discrete, identifiable groups of customers or consumers that have common characteristics and motivations. There are reasons why a business might segment its market.

Marketing mixes for two different segments in consumer markets are given below:
Demographic segmentation: Demographic segmentation is where market is analyzed and divided into groups based on demographic factors. These factors relate to the economic and social features and factors relate to the economic and social features and characteristic of the market being segmented.
• Age: The Uk Census 2001 provides board examples of age groups. These are people aged 0 to 15, aged 16 t0 74 and aged 75 and over. A more detailed breakdown may be 5 year age bands, may be 5 year age bands, e.g. ranges 0-4,5-9,10-14 up to 85-89, then 90 years and over. It may be more useful for a marketing plan to segment using larger age bands of say 10 years. Which bands are used will depend on the market and what the business wants to do with the different age segments.
• Sex: A market can be segmented into, ales and females. Many markets and products have a bias toward one sex or the other. This type of segmentation can be useful when the bias is extreme. For example, neck ties are worn almost exclusively by men, but bought by both men and women. Segmentation will help plan promotion towards men and women.
• Socio-economic group: Various methods are used to segment the market by socio-economic group
• Income. Like age, the bands used for segmentation by income can be tailored to meet the needs of the market of the current economic situation. Typical bands for annual income could be under £10.000,£11,000 to £20,000, and £21000 to £30,000. Income bands are usually selected to be appropriate for the rage of incomes in the market being segmented.
• Occupation. This segmentation assumes that different occupations have different levels of income which have an effect on the market. It can also be an indicator of social status or linked to behavior factors which may be useful for marketing. Purposes.
• Marital status. The Census 2001 break down the population into single people, married or re-married people, separated or divorced, and widowed.
Psychographic segmentation: Psychographic segmentation is where a market is analyzed and divided into groups based on psychographic factors. These factors relate to subjective personality features, such as attitudes, ideas and opinions. Psychographic segmentation is particularly useful for identifying new or niche markets.
• Lifestyle: Lifestyles may fall into different categories. For example they may be:
i. Modern and trend-setting or traditional with few changes;
ii. Expansive and willing to spend money in pursuit of pleasure or cautious with money and unwilling to spend more than is necessary.
• Social class: Social class refers to the hierarchical distinctions (or stratification) between individuals or groups in societies or cultures. Usually individuals are grouped into classes based on their economic positions and similar political and economic interests within the stratification system
• Opinion: An opinion is a person's ideas and thoughts towards something which it is either impossible to verify the truth of, or the truth of which is thought unimportant to the person. It is an assertion about something especially if that something lies in the future and its truth or falsity cannot be directly established e.g. induction. An opinion is not a fact, because opinions are either not falsifiable, or the opinion has not been proven or verified.
• Value: A personal and cultural value is a relative ethic value, an assumption upon which implementation can be extrapolated. A value system is a set of consistent values and measures. A principle value is a foundation upon which other values and measures of integrity are based. Values are considered subjective and vary across people and cultures. Types of values include ethical/moral values, doctrinal/ideological (political, religious) values, social values, and aesthetic values. It is debated whether some values are intrinsic.