There are various ways of segmenting the market. There are mainly four bases on which a consumer market can be segmented. The geographical segmentation is based on the area and the population's characteristics of the segment. Then there are demographical factors that include the age, gender, income and status of family and other related factors (Stanton, Etzel, 2003). Psychographic factors are the attitudes of the people in the market segment, whereas behavioral segmentation is the price, brand loyalty and price of the product.
Demographic factors are a useful indicator because the marketer would need to see that what age group reads the novels of Mills and Boon. Normally the age bracket of its novel readers is between 18 to 34 years of age. Age is an important characteristic because the demands of an individual changes with time and therefore it is necessary for the product to fulfill the desires of each one of the changing demands. The novel should have something for everyone. Their target is females who are more inclined towards romantic novels. The idea behind this deal between Mills and Boons and RFU is to increase the female readership of Boons and Mills novels. ...Show more