Target Market Segment Strategy
Our market segmentation strategy organizes your customer or business base along demographic, geographic, behavioral, or psychographic lines—or a combination of them.
Market segmentation is an organizational strategy used to break down a target market audience into smaller, more manageable groups. A customized customer experience leads to loyalty, better brand recognition, and ultimately higher profits for a product or service.
The three activities of a successful targeting strategy that allows you to accomplish this are segmentation, targeting and positioning, typically referred to as STP.
- Look at your current customer base.
- Check out your competition.
- Analyze your product/service.
- Choose specific demographics to target.
- Consider the psychographics of your target.
- Evaluate your decision.
- Additional resources.
The most common bases for segmenting markets are as follows:
• Geographic Segmentation
• Demographic Segmentation
• Psychographic Segmentation
• Behavioristic Segmentation
• Volume Segmentation
• Product-space Segmentation
• Benefit Segmentation