𝗦𝗲𝗴𝗺𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝘁𝗼 𝗣𝗶𝗲𝗰𝗲 𝗧𝗼𝗴𝗲𝘁𝗵𝗲𝗿 𝗮 𝗪𝗶𝗻𝗻𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆
When you’re playing chess, some pieces are more valuable.
In business, some market segments hold more potential impact, so you want to focus efforts and resources on reaching them.
Divide a market into defined categories based on shared characteristics (e.g. demographics, interests, or locations).
𝙎𝙚𝙜𝙢𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣 → 𝙏𝙖𝙧𝙜𝙚𝙩𝙞𝙣𝙜 → 𝙋𝙤𝙨𝙞𝙩𝙞𝙤𝙣𝙞𝙣𝙜
𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 determines distinct populations along certain lines:
* Demographic characteristics such as age, income, or education
* Geographic details like country, state, or zip code
* Psychographics distinguishes activities and opinions (e.g. environmentalists or conservatives)
* Behavioral traits look at purchasing or usage activity (e.g. an athletic shoe company segments basketball players and runners)
𝗧𝗮𝗿𝗴𝗲𝘁𝗶𝗻𝗴 evaluates segments based on size and potential growth, spend potential, and your objectives and resources.
In 𝗣𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝗶𝗻𝗴, you develop specific audience personas* and marketing plans based on your value proposition.**
Segmentation leads to adeptly mastering marketing and vastly increasing ROI.
* See article on Audience Personas here: https://bit.ly/3er3A3x
** See article on Value Proposition here: https://bit.ly/3f69czx
Photo by Anusorn Nakdee who can be found here: https://bit.ly/3evzpY0