A Bizzare Style Of Market Segmentation
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Market segmentation is dividing a huge market into smaller homogeneous parts and sub-groups to cater for the demands of consumers based on some certain behaviours and characteristics. Some consumers however aren't really looking to buy but to flex their financial power and this is often done at auctions for antique things. Segmentation of the market is of course influenced by consumer behaviour and of course people are different and this is often evident in the way they chose to spend their money.
Obviously some market are segmented for the rich but then there's this improvised sort of segmentation that suits people who are outrageously rich and not spending on to buy value but spending to satisfy a sentimental longing. Buying a painting is one of this. Obviously I won't count this segmentation on psychographic at all, I'll say it's a more improvised sort of segmentation and here it goes. Sometimes the value for a good like a painting only arises from a sentimental aspect since a painting doesn't have a secondary value in real life.
However what makes an item like a painting exorbitantly expensive, while things that can generate real time profit or have underlying value to a buyer is less expensive? This is because sentimental attachment is often placed on something like a painting which makes people covet it a lot. Now the ownership of let's say the rosary of the first nun ever,or the pencil of Ramses the third or maybe the fork of Zeus wouldn't bring any real time value and an ownership of these items sometimes are out of rare love for artifact and to someone who's not passionate about antique things or having an extra bogus bank account, this means little or nothing.
Although one can say that there's a small collection of oligarch that values these things and to the real time economic world prices are garnered by real time value but then something as a painting or the item mentioned above wouldn't really be sold anywhere except a segmented oligarch market where Sentimental appeal determines the price of a product and this is what I'll like to think it's a bizzare type of market segmentation. Of course this is strange. Having an obsession and a fat useless bank account can make people be segmented into this and when you look at the world there are various things that brings no real time value and yet costs so outrageously.
Gold for example can't be compared with an expensive painting, this is because good has a real time primary and secondary value while the value of a painting might decline if the people who holds it valuable are dead. My point is, a painting is great but then the outrageous fees which sometimes it goes for is really bizzare however since the market is further extended bizzare or strange spending I guess I'll like to say sometimes value isn't only derived from real time usability but also from sentimental attachments which of course isn't popular but unique to a particular set of people.
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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
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