Market segmentation to target customers
Market segmentation is a primary component while forming customer specific strategies. A manufacturer of woolen clothes will target chilly areas to gather bulk of clients. This kind of segmentation is termed as geographical segmentation. Some businesses produce products that are specific to particular age group, consumer behavior, gender, lifestyle, brand loyalty so on and so forth. In short, all this based on what a buyer actually demands.
Segmentation to be fruitful must encircle following elements:
- No matter what basis of segmentation you choose, your segment should be measurable.
- It is critical to have a sizable segment to yield profit.
- Segment should be accessible.
- Segment has to be distinctive.
- It should be actionable to facilitate
Motivation of consumer to buy a product depends upon how likely consumers are to be influenced by it peculiarity. A buyer’s response is a key to analyze his needs and can be linked to key performance indicators; size, market share and feasibility. Therefore, segmenting starts with studying consumer behavior and is followed by obtaining feedback.
Professional Market research companies believe that performing segmentation increases efficiency and draws a chain between:
- Who should purchase?
- Why he should purchase?
- How was his experience?
- And the source he purchased from?
A need to send right massage, to the right buyer and at the right time encourages market segmentation. Therefore segmentation should be aligned with brand activation and messaging. This would enhance brand awareness and purchase. Brand description should entail a clear message for consumer that would entice them to buy product. A clear message would prompt the brand activation process. This is extremely helpful in building a brand loyalty and long-term customer relations.