Small Business Tax Center
Small Business Ideas, Grants &
Plans to Start & Run a Business:

Small Business Grants
CyberSchmooz
Network in Cyberschmooz Community Ask Questions Questions and Answers Share Tips Small Business Ideas List Your Business Business Advice from Idea Cafe Experts Coffee Talk with Experts Starting A Business Business Plan Biz Planning | Sample Plans Small Business Ideas Idea Name Your Biz Name Plan Your Biz Plan Financing $ Starting a Business Do It! Running your Business Marketing Tips Promotional Merchandise Marketing Tips Marketing | Sales | Customers Human Resources HR | Employees | Contractors Legal Forms & Tax Information Legal | Biz Forms Managing a Business Managing | Operations
Financing Resources Financing Your Business E Commerce & Webhosting eCommerce Take Out Info Trade Publications FREE Trade Publications Business Books Biz Books Your Own Business Small Business News Small Biz News Gen X Biz Gen X Biz Work at Home Work @ Home Business Information The Fridge - Biz Info on Ice Destress Send Awards Send Awards & Greetings Yoga At Your Desk Yoga @ Your Desk Fun Guide Guide to Find FUN Online About Idea Cafe Press Idea Cafe has received Idea Cafe in the News Idea Cafe's Kudos Kudos for Idea Cafe Advertise on Idea Cafe Advertise on Idea Cafe Privacy Policy Privacy Policy Contact Idea Cafe Contact Idea Cafe Link to Idea Cafe Link to/from Idea Cafe Join Idea Cafe
Search Idea Cafe Site Directory Site Map Online directory to business resources Biz Web Guide



Expert Answers to Biz Questions

Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.

color business bar

What Is Market Segmentation & How To Choose The Right Approach For You

 

Marketing has undeniably always been an important part of doing business, and there’s no doubt whatsoever that you understand this. In fact, I think I can say with certainty that you tend to spend a lot of time trying to create the perfect marketing strategy for your business, revising it and always making changes in order to make it more successful. That’s all amazing, but if the messages you are sending don’t resonate with your customers, then there’s a chance that you haven’t been quite successful in creating your strategy.

What does it take for those messages to resonate with your customers, though? Well, as you might have guessed it yourself, as your audience grows, so does the number of different preferences, requirements and wishes. And, your task is to know exactly which messages to convey to which groups of customers and prospects. That’s where market segmentation comes in, because you cannot expect one and the same message to have a great impact on your entire, huge audience.

This is all very logical, isn’t it? Well, it most definitely is, but that does not mean that you cannot be at least a tiny bit confused about market segmentation in general. You could be unsure as to what it is exactly, and you could also be worried that you might not be able to choose the right approach for your business. Those are certainly some valid concerns.

What are you going to do about those concerns, though? I have a suggestion. In short, all you need to do is just continue reading, since I am going to provide you with the answers you need. If you take your time to go through this article, you’ll certainly get a better understanding of market segmentation in general, and you’ll also learn how to choose the best approach for your business. Let’s take it one step at a time.

What Is Market Segmentation

As you might have concluded it all on your own by now, market segmentation has to do with your audience. In fact, the term itself is pretty clear, meaning that you might already have an idea as to what it precisely means. Essentially, this is the process of dividing your large target market into smaller groups that are much easier to manage.

Find out more about the concept here: https://en.wikipedia.org/wiki/Market_segmentation

If the above has made you assume that all you have to do is create random groups of target customers with the aim of managing them easier, then you’ve made the wrong assumption. Sure, the goal is to divide your target market into segments, but things certainly shouldn’t be done randomly. After all, that would have no point and you wouldn’t make anything easier on yourself that way.

Instead of using such a random approach, this is what you have to do. You need to create those segments, i.e. groups, in accordance with certain things that people have in common. Your entire audience will be filled with people with different characteristics, preferences and needs, and your task is to group the people with the same characteristics into segments, with the goal of optimizing your marketing endeavors and targeting different groups in different way.

This all sounds pretty logical, doesn’t it? Creating tailored messages to fit specific groups will undeniably be extremely successful, and nobody can deny that. And, yet, in order to do this successfully, you have to get acquainted with the various different types of market segmentation, so that you can decide which type and which methods to use to your specific advantage. In short, the four types are: geographic, demographic, psychographic and behavioral segmentation.

How To Choose The Right Approach For Your Business

You have now received a bit more info on marketing segmentation in general and you’ve become familiar with the different types that exist. So, the only thing left for you to do is decide which approach to actually take. As you might have understood by now, different businesses have to use different approaches in order to successfully do the segmentation process and group certain people together when trying to optimize their marketing endeavors. That further means that you’ll have to carefully think about which particular approach to use for your company, and making that decision might not be easy.

The best thing to do here is learn as much as possible about all those different types, so that you can understand which ones could apply best for your specific company. Of course, there is nothing wrong in using all the approaches to group your audience in segments that will help you do the marketing the right way. If you’re not completely sure how to do this, you might want to get help from experts in the industry, as well as rely on certain automation tools that can be of great help.

Google      

Small Business Tax CenterIdea Cafe HomeSign UpBiz Grant CenterCyberSchmoozCoffee Talk with ExpertsPeople in Biz ProfilesStarting Your BizBiz PlanningRunning Your BizFREE Trade PublicationsMarketingFinancing Your BizHuman ResourcesLegal & Biz FormsManaging Your BizeCommerceYou and Your BizGen XWork@HomeThe FridgeDe-StressSend an AwardSend an eGreetingYoga @ Your DeskWeb GuideIdea Cafe in the NewsAbout Idea CafeAdvertise on Idea CafeContact UsPrivacy PolicySite MapSmall Biz News

Copyright 1995-2022, Idea Cafe Inc. Downloads are for personal use only, not for resale to others, and may not be reprinted in any form without written permission from Idea Cafe Inc.

DISCLAIMER: We hope whatever you find on this site is helpful, but be cautioned that it may not apply to your own situation, or be totally current at any given time. Idea Cafe Inc. and all of its current and past experts, sponsors, advertisers, agents, contractors and advisors disclaim all warranties with regard to anything found anywhere on this family of websites, quoted from, or sent from Idea Cafe. and its related sites, publications and companies. We also take no responsibility for comments published by others on these pages.

TRADEMARKS: The following are Registered Trademarks or Servicemarks of DevStart, Inc.: Idea Cafe®, Online Coffee Break®, The Small Business Gathering Place®, Take out Info®, Biz Bar & Grill®, Complaint-O-Meter®, A Fun Approach to Serious Business™, CyberSchmooz™, and BizCafe™.