A market can be defined as a blend of buyers and sellers who are interested and willing to buy and sell. For selling to occur, there should be several products for consumers to choose from since most of them differ in their values, attitudes, buying patterns and perception. At the mentioned stage, the market is identifiable in terms of health care consumer. The notion is true owing to the fact that it stands necessary to divide the market according to some characteristics. Hence, it will be possible to know when, how and to whom do we sell which services or products. Four key variables that can be used to segment healthcare consumer market are demographic, geographic, product usage and psychology (Bonoma and Shapiro.2011).
Demographic Segmentation
The entity is the division of market into subsets based on the traits of a population. If the population consists mainly of the under-five years, with a particular gender or illiteracy level, the healthcare market can concentrate on producing drugs. The concept especially applies for the young ones since they fall sick often. Setting up of clinics is quite imperative as children must attend clinics for vaccinations and checkups at a particular period of their development. A population that is made up of women as the majority may trigger health care market towards focusing on drugs and services. The notion concerns women and may include family planning drugs and general sales of all health products. In addition, women are known to seek medication when they suspect to be sick compared to men. The educated part of our society also seeks healthcare products e.g. health insurance which is a rare service towards the uneducated ones. Hence, the mentioned factors should be considered before setting up a healthcare market (Bonoma and Shapiro.2011).
Geographic Segmentation
Geographic location determines the healthcare products to be made available. Lowland places facing drought and famine will mean that the drugs and services to be offered will be different than that to be availed for highlands with most rainfall (Bonoma and Shapiro. 2011).
Product Usage Segmentation
A particular market can be known for its loyalty in a particular brand. Introducing other brands will, therefore, be a waste. There is also a market made of heterogeneous people, and hence one may do product differentiation and still make some sales (Luther, 2011).
Psychological Segmentation
This kind of segmentation plays with people’s minds. It provides what they want or feel is right for them. Attitudes towards some products determine whether they will buy or not. A good understanding of such a market is essential for making any sales (Luther, 2011).
References
Bonoma, T., & Shapiro, B. (2013). Segmenting the healthcare market. Lexington, Mass.: Lexington Books.
William Luther.(2011). The Marketing Plan: How to Prepare and Implement It AMACOM, 2011 (4th edition)
