Market segmentation is a vital concept in marketing, enabling businesses to divide a broad consumer base into smaller, more manageable groups based on shared characteristics. For grocery retailers, segmentation helps uncover the diverse motivations, needs, and behaviors of shoppers, guiding the development of targeted strategies and offerings.
This article provides … Read more...
Effective market segmentation relies on identifying and understanding the overall market, its sub-markets, and then the consumer segments within those sub-markets. By clearly delineating each level of the market, you avoid the common pitfall of inadvertently defining segments by product category rather than by the characteristics and … Read more...
There are two main approaches to market segmentation in practical use. If an organization has access to sufficient market research and database information, then they can use a statistical technique known as cluster analysis. Otherwise, the marketers involved will need to divide the market … Read more...
