What is market segmentation in business plan

At this point, as you look for more and better and proof, put some numbers and credible sources and creativity into your segmentation. Recognizing Varying Needs of Clients and Customers Opportunities in marketing increase when segmented groups of clients and customers with varying needs and wants are recognized.

Car companies change their advertising substantially from one type of program to another.

best market segmentation examples

Geographic: Grouping customers by a specific area, such regions of the country or state and urban or rural. This stage also factors in brand loyalty and the type of user. What commonalities do you see in the consumers you are targeting?

A big-picture trend analysis is also helpful. As you define the segment, you point toward an understanding of the market.

Rated 9/10 based on 82 review
Market Segmentation