Segmenting
Segmenting is a marketing process of dividing a broad target market into subsets based on common needs, interests, and priorities.
Definition
Segmenting, in the context of marketing, is the process of dividing a broad target market into subsets of consumers or businesses that have, or are perceived to have, common needs, interests, and priorities. Then, designing and implementing strategies to target them.
Usage and Context
Segmenting is commonly used in marketing to tailor promotional efforts to specific populations, rather than trying to reach an entire market. It can be done based on a variety of factors including age, location, behavior, and more. This allows businesses to more effectively reach and serve their target audience, leading to increased customer satisfaction and business success.
FAQ
What are the types of market segmentation?
There are four primary types of market segmentation: demographic, geographic, psychographic, and behavioral.
Why is segmenting important in marketing?
Segmenting is important in marketing because it allows businesses to target specific groups of customers, thereby increasing the effectiveness of their marketing efforts.
Related Software
Many customer relationship management (CRM) software like Salesforce, HubSpot, and Zoho have built-in features for segmenting.
Benefits
Segmenting helps businesses to understand their customers better, tailor their marketing and product offerings to specific customer needs, improve customer service, identify new opportunities, and increase profitability.
Conclusion
In conclusion, segmenting is a key marketing strategy that enables businesses to effectively reach and serve their target audience.
Related Terms
CRM (Customer Relationship Management)
Explaining CRM (Customer Relationship Management), a strategy for managing a company's relationships and interactions with customers and potential customers.Customer Relationship Management
An explanation of Customer Relationship Management (CRM), its usage, context, related software, benefits, and common questions related to it.Digital Marketing Strategy
A Digital Marketing Strategy is a plan that outlines how a business will achieve its marketing goals through online channels.Marketing Strategy
A marketing strategy is a comprehensive plan that outlines a company's marketing efforts to achieve specific goals and objectives.SCRM (Social Customer Relationship Management)
SCRM is a strategy that integrates social media services into traditional CRM processes to engage with customers on a more personal level.Target Market
A target market refers to a specific group of potential customers that a business aims to reach with its products, services, and marketing efforts.
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