How to Segment the Marketplace into Target Markets
Part of the Consumer Behavior For Dummies Cheat Sheet
Segmentation is designed to help you create marketing messages that talk straight to specific consumers, influencing their buying behavior. Creating these target markets should help you get the best results on your marketing and sales efforts. Here’s how the process of segmentation works:
Identify your core market.
Determine whether your core market qualifies for segmentation.
Identify your core market for potential success.
Identify potential customer needs.
Identify submarkets within your core market.
Identify segment dimensions.
Identify the consumer behavior of each market segment.
Estimate the size of your market segments.