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Market segmentation, a strategy used in contemporary marketing and advertising, breaks a large prospective customer base into smaller segments for better sales results. Segmentation is based on specific criteria related to an individual's age, income, subjects of interest and behaviors. Our customer segmentation guide will teach you what it is, why you should implement a strategy and how to build a plan that will help campaigns soar.
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Market segmentation is the process of dividing a wide target market into smaller groups based on shared characteristics like needs, behaviours, or demographics. Segmentation is when you isolate potential target audiences to determine which ones will bring the highest return on your marketing efforts Segmentation is the process of taking a broad market and breaking it into various groups (a.k.a
Segments) according to specific characteristics, desires, or needs
Take a brewery for example, their broad target market consists of customers who want to drink good beer and eat pub style food. Understanding segmentation starts with learning about the various ways you can segment your market as well as different types of market segmentation There are four primary categories of segmentation, illustrated below. Market segmentation is when a business splits potential customers into groups based on shared characteristics
These characteristics include location, age, income, credit rating, usage rates, or buying habits. Market segmentation is the practice of grouping customers together based on shared characteristics — including demographic information or common interests and needs. Learn what market segmentation is, its benefits, the different types of segmentation, and the steps you can take to implement it successfully.
