Market Segmentation

Why is market segmentation so important?

- Provides the framework for developing marketing strategies
- Gain insights into customer needs and buying behavior
- Accurately measure customer value and loyalty
- Profile customer groups by demographics and lifestyles
- Provides insight for using the “right” media, messaging, images and offers
- Impacts channels, service levels and new product development
- Allocate scarce marketing resources
- Benchmark performance of each segment
- Track segment migration
- Measure the effectiveness of marketing strategies