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Demographic: Grouping customers by age, income level, gender, family size, religion, race, nationality, language, etc.Distribution: Grouping customers based on where they go to purchase your product, such as online, store or through a catalog.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. For example light, medium or heavy users. Behavioral: Grouping customers by product usage.Decision Makers: Grouping your customers based on who decides to purchase your product within the company structure.Psychographic: Grouping your customers into cultural clusters, social status, lifestyle and personality type.You won’t use all of these descriptors for every campaign, but you should know them.
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Strategic Planning: Common Segment Descriptorsĭescriptors are customer characteristics, used during the strategic planning phase, that are significant enough to divide your market. Correctly using market segmentation allows you to better know your customer base, and align your marketing efforts and messaging strategy. It’s not that results aren’t attainable through mass marketing, it’s just not as an efficient process as market segmentation. Many mass marketing techniques that are used assume all customers are the same. One of the main reasons to use market segmentation is to gain a competitive advantage by understanding the needs of a specific customer base. Why Should You Care About Market Segmentation? Marketing campaigns are then designed and implemented to target these specific customer segments. Marketing segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and application for the relevant goods and services. In fact, a study done by Harvard Business claimed that in the US, 85% of 30,000 new product launches failed because of poor market segmentation. I’m even more surprised that most just assume “everyone” will buy their products or sign up for their services.
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YOUR DOING IT WRONG HOW TO
I’m amazed at how many savvy business people don’t know how to properly implement market segmenting before developing a marketing plan.