Targeting Customers

Market Segmentation
A business divides the market into distinct segments
Market segmentation occurs when the total market is
subdivided into groups of people who share one or more
common characteristics. The main features used to
segment the total market are:
Age
Gender
Income level
Educational background
Geographical location
Lifestyle
Family structures
Usage rate
The ultimate aim of market segmentation is to increase
sales and profits by better understanding and responding
to the desires of the target customers.
Target Market
Target market refers to the group of customers to which a
business intends to sell its product.
Niche Market
Some businesses target a very small segment of the total
market. This is known as niche marketing.