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Focusing marketing communications on a particular audience generates better marketing results. Segmentation is a component of market research that helps business owners identify their target market for the purpose of designing meaningful marketing strategies. Business owners are likely to earn the respect and continued business of their customers by taking the time to get to know who they are and what they need.
Segmentation is the process of categorizing a broad market into subgroups of customers with similar interests, common trends, and demographics. This process allows businesses to tailor products and/or services to fit the needs, budgets, desires, and buying patterns of their primary consumer base. Understanding who you are targeting adds value to your marketing efforts, the brand, and essentially increase sales. Recognizing what motivates customers to purchase or research products is essential to developing the most effective marketing plan.
A valuable marketing campaign focuses on the ideal customer while directing communications and advertisements to that target segment. A well structured plan uses market research to identify the who, what, and how components of the marketing framework. Sending out aimless communications is a waste of resources and time. Therefore, taking the time to get to know your customers will benefit your business in the long run.