Discuss the five common methods of segmenting consumer markets.

The five common methods are geographic (based on the location of consumers), demographic (based on factors such as age, income, gender, ethnic background, marital status, race, religion, and social class), geo-demographic (based on a combination of demographic and geographic characteristics of users), psychographic (based on lifestyles, opinions, interests, and attitudes of users), and behavioural (based on variables such as the benefits that are sought from the product, the usage rate of the product, the occasion when the product is used, and the status of the product user).