Based on the product you selected for your Marketing Plan: Phase I Paper, Address the following: - Identify the segmentation criteria that will impact your target market selection

Segmentation criteria that will impact the target market selection:

Segmentation by demographic characteristics:

The primary segmentation criteria used in this case will be the demographic characteristics, such as gender, age,etc. Since this medicine is a sleeping aid, especially designed for menopausal women with possible depression, gender and age will act as the major demographic characteristics for our segmentation. Thus, women will be the major target market for our product. Secondly, in terms of age, the primary target market will be elderly women who are 50 years or older, as menopausal women are mostly found within those age range. Thus, based on demographic characteristics, the primary target market will be elderly women in the range of 50 years and older.

Geographic segmentation: Geographic segmentation criteria can also be used in this scenario in the sense that there are significant differences in terms of stress levels on people living in large cities as compared to those staying in smaller towns. Thus, people living in cities are more prone to sleeping disorders and thus, will be potential target market for the sleep aid product. Thus, company can segment its target market on the basis of the urban and rural population. People living in large metropolitan areas such as New York City and much more prone to sleeping disorders and thus can be potential users of the product.

Behavioralistic Segmentation: This segmentation is based on actual customer behavior towards the product and contains variables such as benefits sought, usage rate, brand royalty,etc. Thus, company can use variables that are closely related to the product itself, such as royalty towards the Aventis brand of pharmaceutical products, frequency of usage of the sleeping pill, benefits desired such as relaxed sleep without any side effects,etc. Thus, based on such variables, company can segment its target market.