Segmentation and Targeting Workbook: Strategic Marketing Management

Market segmentation and targeting are two of the most important concepts in marketing. By understanding the different segments of your market and targeting your marketing efforts accordingly, you can increase your chances of success.

This workbook will provide you with a step-by-step guide to market segmentation and targeting. You will learn:

• The different types of market segmentation
• How to identify and profile your target market
• How to develop marketing strategies that are tailored to your target market

Market segmentation is the process of dividing a market into smaller, more manageable groups of customers. This allows you to target your marketing efforts more effectively and efficiently.

Segmentation and Targeting Workbook (Strategic Marketing Management 21)

by Roger Kropf

5 out of 5

Language	:	English
File size	:	2271 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	20 pages
Lending	:	Enabled
Hardcover	:	234 pages
Item Weight	:	14.4 ounces
Dimensions	:	6 x 0.71 x 9 inches
Paperback	:	314 pages

FREE

There are many different ways to segment a market. Some of the most common segmentation variables include:

• Demographics (age, gender, income, education, etc.)
• Psychographics (personality, values, interests, etc.)
• Geography (location, climate, etc.)
• Behavior (purchase habits, usage patterns, etc.)

The key to successful market segmentation is to identify variables that are relevant to your product or service. For example, if you are selling a luxury car, you might want to segment your market by income. If you are selling a new type of food product, you might want to segment your market by eating habits.

Once you have segmented your market, you need to identify your target market. This is the group of customers that you are going to focus your marketing efforts on.

Your target market should be:

• Identifiable: You should be able to clearly define the characteristics of your target market.
• Accessible: You should be able to reach your target market through your marketing channels.
• Substantial: Your target market should be large enough to be profitable.
• Measurable: You should be able to track your progress in reaching your target market.

Once you have identified your target market, you need to develop marketing strategies that are tailored to their needs and wants.

Your marketing strategies should be based on the following principles:

• Customer focus: Your marketing strategies should be focused on meeting the needs and wants of your target market.
• Differentiation: Your marketing strategies should differentiate your product or service from those of your competitors.
• Positioning: Your marketing strategies should position your product or service in the minds of your target market.
• Integration: Your marketing strategies should be integrated across all of your marketing channels.

Market segmentation and targeting are essential for marketing success. By understanding the different segments of your market and targeting your marketing efforts accordingly, you can increase your chances of reaching your target audience and achieving your marketing goals.

This workbook has provided you with a step-by-step guide to market segmentation and targeting. By following the steps outlined in this workbook, you can develop marketing strategies that are tailored to the needs of your target market and increase your chances of success.

Segmentation and Targeting Workbook (Strategic Marketing Management 21)

by Roger Kropf

5 out of 5

Language	:	English
File size	:	2271 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	20 pages
Lending	:	Enabled
Hardcover	:	234 pages
Item Weight	:	14.4 ounces
Dimensions	:	6 x 0.71 x 9 inches
Paperback	:	314 pages

FREE