 What types of customer should I be targeting? |
| How can I customize my marketing messages to resonate with target customers? |
| How can I identity opportunities for competitive differentiation? |
| |
| Market segmentation is a highly actionable analysis if you are facing the above marketing questions. It has become a popular topic in marketing, marketing research and strategic planning. Market segmentation allows product manufacturers and service providers to identify unique segments in the market so that they can tailor product features, services, distribution, pricing, and marketing communication messages to each. |
| Further, segmentation research allows sellers of products and services to quantify the size and potential opportunities of the segments, describe the composition of each segment, and evaluate alternative segment-level marketing strategies. |
| |
| DoTrust Segmentation Methods
|
| |
| There is no single correct way to segment a market. The broad strategic direction of the company, hypothesized segmentation scheme, and/or the capabilities of the organization should drive the particular approach taken. To determine how best to segment a market, DoTrust considers a number of segmentation alternative, including |
| |
| Geographic ( region, city or metro size, density, climate ) |
| Demographic ( age, family size, family life cycle, income, occupation, education, religion, social class, etc. ) |
| Psychographic ( lifestyle, personality ) |
| Behavioral ( Occasions, user status, usage rate, readiness stage, etc. ) |
| |
| Segmentation Research Tools |
| Factor and cluster analysis |
| Conjoint |
