Segmentation plan

Is this because of education, age, or income levels? Skin care cosmetics brands often offer special series for babies, teens, normal skin, and elder skin.

demographic segmentation

It is important to prepare and do your research upfront to truly determine your segments and then align with marketing efforts. For example, I was consulting with Apple Computers in its early years when the marketing department decided to segment the market according to usage types, as in the illustration here.

Examples of Targeting in Marketing The STP Model consists of three steps that help you analyze your offering and the way you communicate its benefits and value to specific groups.

And of course, markets change.

International market segmentation and positioning

As you define the segment, you point toward an understanding of the market. When I was consulting for Apple Computer in the middle s, we divided the markets into workable categories, including home, education, small business, large business, and all others. For example, when a local computer store business defines its customer segments as "high-end home office" and "high-technology small business," its segmentation says a lot about its customers. Exclude detailed research findings and support in the executive summary, keeping it to half a page or less. Divide the market into workable market segments -- age, income, product type, geography, buying patterns, customer needs, or other classifications. So a man driving a pickup truck might be likely to wear cowboy boots rather than Birkenstock sandals; and a woman driving a Volvo station wagon is more likely to buy organic spinach than fried chicken. In today's business it's easy to see segmentation in action. Geographic — By country, region, state, city, or neighborhood. Step 4 Write a recommendation report starting with an executive summary that identifies the market segment you recommend entering and how your product and ability to deliver it to that market segment make it your best chance for success. Is income level a key factor? For example; light, medium or heavy users. References 4.

If you continue to monitor the situation once the plan is in effect, you should know quickly whether everything is on the right track or changes need to be made and resources reallocated. How can her team members develop a perfect product for these people?

bad market segmentation examples

Four Simple Rules for Market Segmentation 1.

Rated 7/10 based on 42 review
Download
Segmentation, Targeting and Positioning Model