Market Segmentation
Strategic Dimension
Divide a heterogeneous market into distinct groups or segments based on similar characteristics and needs.
Strategic Dimensions: Differentiation • Market Segmentation • Value Chain • Marketing Channel • Customer Relationships • Revenue Model • Pricing • People • Technology • Partnership • Organizational Structure • Business Process • Finance • Political Advocacy
Purpose
Market segmentation strategy involves breaking down a diverse, heterogeneous market into distinct groups or segments, each with shared characteristics and needs. This approach allows businesses to cater their offerings more precisely to specific audience subsets. By understanding and defining the varied types of customers, companies can tailor their products, services, and marketing messages to resonate more effectively with each segment, optimizing reach and relevance. This targeted approach often leads to enhanced customer engagement and increased sales potential.
Notes
Market segmentation is about defining different kinds of customers.
Rules / Constraints
We have not (yet) defines rules or constraints.
“Strategy requires thought, tactics require observation.”
(Source: Max Euwe)