Segmentation helps marketers answer the following set of fundamental questions: To whom should I be marketing?Why them?How can I reach them most effectively? Because marketers have finite resources, they have to make decisions about how and where to focus their efforts. Market segmentation provides useful information about prospective customers to guide these decisions and to ensure that marketing activities are more buyer focused. Market segmentation is the process of Read More
Defining Your Target Market
Whom Are You Trying to Reach? Suppose you are selling automotive detailing products. Is your target “anyone with money to pay for your product?” Or are you focusing your efforts on a tightly defined market niche of people with an identified need for what you are selling? “Anyone with money” is such a broad audience that it’s difficult to make any impact at all with your marketing efforts or convince very many people that they need your product. If you narrow and carefully Read More
Target Market Segmentation
Before you can craft a killer message to send as part of your integrated marketing campaign, you have to know who you’re trying to reach. As you begin this module, always remember one simple concept: people are different. A message that turns one person on may leave another cold. And, of course, not everybody is likely to be interested in the idea, product, or service you want to sell. Before marketers can decide what a campaign should say, they need to devote a lot of thought to identifying Read More