Más contenido relacionado



  1. StudyMafia.Org SubmittedTo: Submitted By: Marketing Segmentation
  2. Table Contents • Definition • Introduction • Types of Marketing Segmentation • Importance of Marketing Segmentation • Mistakes of Marketing Segmentation • Implementation of Marketing Segmentation • Conclusion 2
  3. Definition Market segmentation is a business practice that brands use to divide their target market into smaller, more manageable groups of people 3
  4. Introduction • The purpose of market segmentation is to introduce a tailored message that will be received successfully. • This is advantageous for companies that may have a product or service in the marketplace that boasts multiple benefits or uses for different types of customers. 4
  5. 5
  6. Types of Marketing Segmentation Geographic segmentation Geographic segmentation targets customers based on a predefined geographic border. Differences in interests, values, and preferences vary dramatically throughout cities, states, and countries, so it’s important for marketers to recognize these differences and advertise accordingly. ●●● 6
  7. Types of Marketing Segmentation Demographic segmentation Demographic segmentation divides a market through variables such as age, gender, education level, family size, occupation, ethnicity, income, and more. This form of segmentation is widely used due to specific products catering to obvious individual needs relating to at least one demographic element. ●●● 7
  8. Types of Marketing Segmentation Psychographic segmentation Unlike geographic segmentation and demographic segmentation, psychographic segmentation focuses on the intrinsic traits your target customer possesses. Psychographic traits can range from values, personalities, interests, attitudes, conscious and subconscious motivators, lifestyles, opinions, and more. ●●● 8
  9. Types of Marketing Segmentation Behavioral segmentation Behavioral segmentation has similar measurements to psychographic segmentation, but instead, it focuses on specific reactions and the ways customers go through their decision making and buying processes. 9
  10. Importance of Marketing Segmentation Customer retention • For starters, those cohesive customer segments will lead to great customer retention. • Capturing customers at the beginning of a perfectly tailored customer journey will provide an excellent brand experience and increase the likelihood that they will stay loyal to your brand. ●●● 10
  11. Importance of Marketing Segmentation Grow your business • Market segmentation can not only help you discover new ways to reach your current customers but also help you find new markets of potential customers that you haven’t previously reached. ●●● 11
  12. Importance of Marketing Segmentation Lower spend rate • If you know how to speak to your customers correctly, you’re more efficient with your efforts, which means you spend less money. It’s as simple as that. 12
  13. Mistakes of Marketing Segmentation Creating too small of segments • This can be rather easy to do if you’re trying to ensure that you have every last detail included. • If a segment is created too small, you’ll lose the buying power of that group as well as create a segment with non- quantifiable metrics. ●●● 13
  14. Mistakes of Marketing Segmentation Not updating your strategy as your customer base changes • People change, and they can change fast. • It’s in your brand’s best interest to refresh its strategy and resurvey its customers from time to time. ●●● 14
  15. Mistakes of Marketing Segmentation Targeting the segment instead of the money • You may have segmented a large customer base that aligns with your strategy, but if that segment doesn’t have the buying power or a legitimate need for your product, then you won’t have a positive ROI. 15
  16. Implementation of Marketing Segmentation • It’s time to put what you’ve learned to use. Here are five steps that lay the process out simply, plus the two strategies that are most commonly used to guide them. • Once you’ve got these basics down and you have a solid foundation for your strategy, branch out, and make it uniquely your own. ●●● 16
  17. Implementation of Marketing Segmentation • Concentrated strategy As the name suggests, a concentrated marketing strategy is when a company chooses only one market to focus all of their time, money, and efforts on. • Differentiated strategy On the other hand, a differentiated marketing strategy is when a company focuses on two or more markets. ●●● 17
  18. Implementation of Marketing Segmentation 1. Define your market Where does your brand fit within the current market landscape? Is there a need for the solution you promise to provide? How large is the market? These are all important questions to consider when starting this step. ●●● 18
  19. Implementation of Marketing Segmentation 2. Segment your market This is where it gets fun. Decide which of the four segmentation methods you’re going to use, but don’t feel confined by one segmentation method. ●●● 19
  20. Implementation of Marketing Segmentation 3. Understand your market Ask your target market the questions that relate to the segmentation categories you chose. You should get to know your target market through and through at this step. ●●● 20
  21. Implementation of Marketing Segmentation 4. Build your customer segments Interpret the responses you received to create dynamic customer segments that are unique to your brand. Make sure that you’re focusing on the buying power of the segments and not creating any that are too small. ●●● 21
  22. Implementation of Marketing Segmentation 5. Test your strategy Ensure that you have interpreted your responses accurately by testing it on your target market. Implement conversion tracking early. It’s one of the best ways to determine the effectiveness of your strategy. 22
  23. Conclusion • Market segmentation is a highly effective strategy for every marketing team. • It proves to your customers that you understand them by providing a tailored message that resonates with specific facets of their lives. 23
  24. References ◦ ◦ ◦ ◦
  25. Thanks To