Segmenting is a marketing process of dividing a broad target market into subsets based on common needs, interests, and priorities.
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.
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.
There are four primary types of market segmentation: demographic, geographic, psychographic, and behavioral.
Segmenting is important in marketing because it allows businesses to target specific groups of customers, thereby increasing the effectiveness of their marketing efforts.
Many customer relationship management (CRM) software like Salesforce, HubSpot, and Zoho have built-in features for segmenting.
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.
In conclusion, segmenting is a key marketing strategy that enables businesses to effectively reach and serve their target audience.