Market Segmentation and Sustainability of Selected Paint Manufacturing in Lagos State Nigeria

Abstract

This study explores the relationship between market segmentation and sustainability by analyzing how demographic and psychographic segmentation influences the adoption of eco-friendly production practices within the paint manufacturing industry. By examining these variables the research seeks to understand how segment-specific insights can drive sustainable innovation and greener production choices. The goal is to offer strategic direction for manufacturers to tailor their sustainability efforts in ways that resonate with distinct consumer segments, thereby enhancing both environmental impact and market performance. Given the increasing global emphasis on sustainability, businesses must align their market segmentation strategies with environmentally conscious consumer preferences. For demographic segmentation with a coefficient of 0.5273 and a statistically significant P-value of 0.000 while psychographic segmentation coefficient of 0.4192, and with a statistically significant P-value of 0.000, the findings reveal that market segmentation have an effect on sustainability. The result confirms the overall model significance, reinforcing the crucial role of market segmentation in sustainable business practices. Based on these results, the study recommends that paint manufacturers refine their demographic segmentation strategies by targeting high-income, urban consumers willing to invest in eco-friendly paints. Additionally, psychographic segmentation should be leveraged by integrating sustainability into branding and advertising campaigns to appeal to environmentally conscious buyers. Furthermore, businesses should adopt data-driven strategies, utilizing machine learning and predictive analytics to continuously assess consumer trends and optimize their eco-friendly product offerings.