does anyBody know the definition of market segmentation plz?
To break your target market down into smaller chunks to more closely target a product/advertising campaign etc.
So, for example, your target market might be 18-25 years olds and the particular segment of that market you might be aiming at might be students in full-time Higher Education.
From there you would be able to perform other marketing exercises such as customer profiling
Similarly you might identify which segment of the market you did not consider to be your audience. In this example, for eg, you might consider that unemployed teenagers with no qualifications were an ‘excluded segment’ who you didn’t want to hear from in market research etc
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October 31st, 2009 at 8:54 pm
something like dividing the market into separate categories..i think…
References :
October 31st, 2009 at 9:10 pm
Markets are usually segmented by demographics, psychographic, or behavioral differences. You basically segment the overall market into smaller segments of people that you can satisfy (better than your competition) with your product/service.
References :
October 31st, 2009 at 9:27 pm
To break your target market down into smaller chunks to more closely target a product/advertising campaign etc.
So, for example, your target market might be 18-25 years olds and the particular segment of that market you might be aiming at might be students in full-time Higher Education.
From there you would be able to perform other marketing exercises such as customer profiling
Similarly you might identify which segment of the market you did not consider to be your audience. In this example, for eg, you might consider that unemployed teenagers with no qualifications were an ‘excluded segment’ who you didn’t want to hear from in market research etc
References :