Market Segmentation
About Market Segmentation
Market
segmentation is a process of dividing a heterogeneous market into
relatively more homogenous segments based on certain parameters like
geographic, demographic, psychographic, and behavioral. It is the
activity of dividing a broad consumer or business market, normally
consisting of existing and potential customers, into sub-groups of
consumers (known as segments) based on some type of shared
characteristics.
Why is Market Segmentation important?
The benefits of market segmentation are as follows:
• Determining market opportunities
• Adjustments in marketing appeals
• Developing marketing programs
• Designing a product
• Media selection
• Timing of marketing efforts
• Efficient use of resources
• Better service to customers
• Helps in fixing prices
• Assist in distribution strategies.
Who should take the Market Segmentation Exam?
• Marketing, PR, Advertising, or branding professionals
• Business owners
• Entrepreneurs
• Anyone who wants to assess their marketing skills
• PR, Advertising or branding managers and senior executives
• Marketing consultants
• Professionals working in outsourced marketing companies
Market Segmentation Certification Course Outline
1. Capturing Marketing Insights
2. Connecting With Customers
3. Analysing Consumer Markets
4. Analysing Business Markets
5. Identifying Market Segments And Targets
6. Delivering Value
Certificate in Market Segmentation FAQs
What are the 4 kinds of market segmentation with examples?
For instance, the four kinds of segmentation are:
• Demographic
• Psychographic
• Geographic
• Behavioral.
These are normal instances of how organizations can portion their market by sex, age, way of life, and so on.
This can be characterized in quite a few different ways:
• Country.
• Area.
• City.
• Postal code.
What are the 4 main consumer markets?
• Food and refreshments,
• Retail,
• Consumer items.
• Transportation.
What are the 3 target market strategies?
The three strategies for choosing target markets are seeking after whole markets with one marketing mix, focusing on one segment, or seeking after different market sections with various marketing mixes.
How do you identify market segments?
A decent market fragment ought to be Identifiable (or differentiable). It ought to be feasible to portray a fragment as per engaging attributes (geographic, segment, and psychographic) or conduct contemplations (shopper reactions to benefits, utilization events, or brands).