small businesses can gain a competitive edge by focusing their marketing efforts on specific segments of the market instead of trying to appeal to everyone. segmentation can be used to develop several different types of customer profiles. for a small business such as a pizza shop, for example, its target market may be all residents within a five-mile radius of the shop’s location. the shop owner can target this market by placing door hangers containing a special offer on all homes and businesses within this radius or by mailing coupons to all homes within specific zip codes. through market research, the company may identify its ideal customer as a married, college-educated female aged 30 to 35 with an annual income level of $35,000 to $45,000. for example, an owner of a women’s clothing store might attempt to reach this market by developing an ad campaign to promote a new line of business attire. you would reach a younger market segment using more digital media channels, while older customers would be targeted via traditional methods such as direct mail or magazine ads.
be careful when using only one demographic profile to attempt to create a market segment. you might be targeting both single and married women, or women with and without children, who seek different benefits. psychographic profiling attempts to segment the market based on traits such as personality and lifestyle. a purveyor of expensive jewelry items can use psychographic profiling to market to individuals who have purchased similar items in the past or other luxury products like expensive cars or clothing. behavioral profiling analyzes characteristics such as desired product benefits, price sensitivity and brand loyalty. behavioral profiling can also tell a company how many of their customers are first-time buyers as opposed to repeat customers. a bakery owner can improve quality be selecting better ingredients and encourage repeat visits by attaching coupons to customer receipts.
you should look to build a detailed segment profile for each of your market segments – based on the data you have available to you. sure we now know a little about them – but just a little – and certainly not enough to construct a suitable and effective marketing strategy.
“…the target market are consumers that have a lower level of brand loyalty than the average and see themselves as smart and rational shoppers – they are more likely to shop around and be more highly involved in their purchase decision – they are above average consumers of the internet and will seek out online shopping guides and forums – they are less likely to be influenced by traditional advertising and in-store salespeople – they are quite responsive to in-store deals and offers (sales promotions)…” you can see from this more detailed segment profile (consumer description) that we now have a lot more information about the segment that will really help us in marketing strategy development. however, the second (better) profile gives us so much more to work with – for example, we know: please note that i have also developed the market segmentation study guide website. below is an excerpt/link from that guide that provides some examples of a segment profile.
psychographic profiling attempts to segment the market based on traits such as personality and lifestyle. marketers may use these traits when developing a “a market segment profile describes the similarities among potential customers within a segment and explains the differences among people and organizations in in this example we will provide a profile for two different market segments, using the range of factors listed in the discussion of segment profiles,, evaluate relevant market segments, evaluate relevant market segments, market segment profile example, market segmentation examples, target segment profile example.
a market segment profile is a detailed description of the market segment u2013 that you wish to offer your products or services in u2013 across a range of factors and measures. it is designed to provide the organisation with an in-depth understanding of consumers within each segment for the purposes of comparison and strategy. segment profiling is a key part of market segmentation they are switchers (less loyal) they make rational (not emotional) decisions they gather more a segment profile is a descriptive summary of the size, needs, behaviors and preferences of consumers within a particular market segment, with the goal of choose two different market segments from the above list and descriptions. in your group, discuss both consumer segments and how the consumers probably make, main customer segment profile example, profile segmentation variables, example of market profile, segment profile api, profile of target segment, demographic segmentation, psychographic segmentation, behavioral segmentation, geographic segmentation, importance of market segment profile. how do you develop a segmentation profile? what is included in a segment profile? what are the 4 types of market segmentation? how do you write a market profile?
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