BM2207
Katelyn Mae H. Sungcang BSBAOM – 401A
IDEA BUILDER
KEY IDEAS
There are many different ways to segment
markets, including geographically,
demographically, or behaviorally. By identifying the
items that are most likely to capture a portion of a
target market and the most effective channels for
marketing and distributing those products, market
segmentation aids businesses in reducing risk.
IMPORTANCE
For organizations to successfully target their
desired audience and customize their marketing
efforts, market segmentation is essential.
Companies may develop more individualized
messaging, boost consumer happiness, and
eventually boost sales and revenue by segmenting
a broader market into smaller segments.
EXAMPLE
Victoria's Secret and their brand PINK, which
targets teenagers, is an illustration of market
segmentation in action. While their brand PINK is
predominantly marketed to women, Victoria's
Secret primarily targets women.
02 Activity 1
FACTS
Market segmentation is to pinpoint specific customer
groups so that merchandise and branding can be
tailored to appeal to them. There are many different
ways to segment markets, including geographically,
demographically, or behaviorally.
DEFINITION
The whole addressable market share of a brand is
divided into smaller segments using a marketing
method called market segmentation. Each segment or
group has traits in common that allow the brand to
provide specialized and targeted goods, services, and
experiences.
STRATEGY
The best way to reach your target market is to
establish which clients you can develop connections
with, how to categorize them, and what marketing
initiatives to implement using a marketing
segmentation plan. Providing customers with a
tailored experience results in improved customer
retention rates and more targeted marketing
strategies.
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