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Making A Good Market Segmentation Strategy

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Jeffrey Darraugh
Jeffrey Darraugh

This document discusses how to develop an effective market segmentation strategy. It recommends first analyzing customer needs using Maslow's hierarchy, then determining where one's product fits within those needs. Next, identify the core demographics and psychographics of the target segment. Psychographics involve analyzing customer behaviors, preferences, and brand loyalty. Finally, apply the 4Ps of marketing to create a strategy that mixes product and customer insights to target a specific segment effectively. Developing a segmentation strategy is a process of analyzing customers and products from broad to specific factors.

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Making A Good Market Segmentation Strategy
Marketing is the art of knowing how to sell a product and getting it directly to the hands of the consumers. Of course in order to do this, one has to know which group of customers he should actually zoom in on. The art of determining which group of people a marketer should push his product to is the art of making a market segmentation strategy.
In order to develop good strategies, a marketing person should always first consult the Maslows Hierarchy of Needs because this will be his basis on what kind of people he must target for his product. The levels of this hierarchy are the basic needs, safety needs, belonging, self esteem, and of course self actualization. The product that will be sold must fall into either one of these categories of needs and it is up to the marketer to determine which one.
These categories will give one an idea on what he is going to sell. With regard to the hierarchy, one can actually relate the needs here to the type of products that are being sold in the market. For example, the survival needs are provided by the convenience products, the self esteem or actualization needs will be covered by the luxury items, and so on and so forth.
Once one has already defined what category his product fits in, then it is already very easy to know what group of people to target. The first thing to look at in a group of people would be the basic demographics. The most basic contents of demographics would be the age, gender, social class, and of course ethnicity.
By going deeper, this means that the marketer has to analyze the the movements of the customers in order to know how they work. In order to do this, he has to determine the psychographics to know the cluster of behavior patterns. A marketer has to take a close look at how the consumer behaves, where he likes to go, and what he likes to do.
Brand loyalty is also a very important aspect of marketing that can be solved by the use of good segmentation. Now through the psychographics, one can now take a closer look at how each consumer behaves. The marketer will be concentrating on how the consumer behaves with regard to the product like how many times the consumer uses it, if he buys it all over again, and how he reacts to the price.
Through this process, it is now possible to make great strategies. The four Ps of marketing will be at work here now because these concepts will be the one that will mix up all the above concepts. From there, a lot of things may now be implemented.
So as one can see, making a market segmentation strategy not only takes a look at the consumers but also at the product. Basically, one has to take a look at the product then the specific customer that should be serviced. It is a process that goes from broad to specific.
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Making A Good Market Segmentation Strategy

  • 1. Making A Good Market Segmentation Strategy
  • 2. Marketing is the art of knowing how to sell a product and getting it directly to the hands of the consumers. Of course in order to do this, one has to know which group of customers he should actually zoom in on. The art of determining which group of people a marketer should push his product to is the art of making a market segmentation strategy.
  • 3. In order to develop good strategies, a marketing person should always first consult the Maslows Hierarchy of Needs because this will be his basis on what kind of people he must target for his product. The levels of this hierarchy are the basic needs, safety needs, belonging, self esteem, and of course self actualization. The product that will be sold must fall into either one of these categories of needs and it is up to the marketer to determine which one.
  • 4. These categories will give one an idea on what he is going to sell. With regard to the hierarchy, one can actually relate the needs here to the type of products that are being sold in the market. For example, the survival needs are provided by the convenience products, the self esteem or actualization needs will be covered by the luxury items, and so on and so forth.
  • 5. Once one has already defined what category his product fits in, then it is already very easy to know what group of people to target. The first thing to look at in a group of people would be the basic demographics. The most basic contents of demographics would be the age, gender, social class, and of course ethnicity.
  • 6. By going deeper, this means that the marketer has to analyze the the movements of the customers in order to know how they work. In order to do this, he has to determine the psychographics to know the cluster of behavior patterns. A marketer has to take a close look at how the consumer behaves, where he likes to go, and what he likes to do.
  • 7. Brand loyalty is also a very important aspect of marketing that can be solved by the use of good segmentation. Now through the psychographics, one can now take a closer look at how each consumer behaves. The marketer will be concentrating on how the consumer behaves with regard to the product like how many times the consumer uses it, if he buys it all over again, and how he reacts to the price.
  • 8. Through this process, it is now possible to make great strategies. The four Ps of marketing will be at work here now because these concepts will be the one that will mix up all the above concepts. From there, a lot of things may now be implemented.
  • 9. So as one can see, making a market segmentation strategy not only takes a look at the consumers but also at the product. Basically, one has to take a look at the product then the specific customer that should be serviced. It is a process that goes from broad to specific.