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.
market segmentation involves using market research to identify the business’s ideal target market and customer. segmentation can be used to develop several examples of a segment profile ; proportion of the overall market. 10% of all consumers. 15% of all consumers ; consumer behavior ; main consumer needs. want to get a segment profile is not a simple demographic list. for example… “…the target market are consumers aged 18 to 30 years who enjoy watching sport…” …is a weak, main customer segment profile example, main customer segment profile example, market profiling example, market segmentation examples, profile segmentation variables.
common characteristics of a market segment include interests, lifestyle, age, gender, etc. common examples of market segmentation include geographic, demographic, psychographic, and behavioral. a market segment profile is a detailed description of the market segment – that you wish to offer your products or services in – across a using market segmentation to create consumer profiles different examples of classification categories that market research firms use., what is a market segment profile, evaluate relevant market segments, target segment profile example, profile of target segment, segment profile api, importance of market segment profile, differentiated segmented marketing, target market demographics examples, concentrated marketing examples, create detailed segment descriptions. what is a market segmentation profile? what is included in a segment profile? how do you create a segment profile? what are the 4 types of market segmentation with examples?
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