Market segmentation refers to a marketing process where a group of buyers in a market is divided into smaller groups based on multiple factors. This is extremely helpful in understanding market tendencies and creating targeted market segmentation strategies. Used by marketers, strategists, and analysts, target market segmentation effectively allows for customer segmentation, making a larger consumer base more manageable and focused. Positioning is another factor within Marketing Segmentation. It is part of a larger process of STP Marketing and is a way of understanding how a consumer perceives your product compared to your competitor’s.
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Also, find our Marketing Plan on developing amazing marketing presentations, including your market segmentation process, to create a broad scope marketing plan. Also, use our Marketing Plan Deck to provide market and company analytics to your team. Finally, include the Marketing Mix and the 3Cs of Marketing campaigns to ensure you cover all your bases and provide complete and diversified information.