Additional Segmentation Bases
This article introduce less common segmentation bases for marketing students who wish to broaden their segmentation toolbox and craft a more nuanced strategy.
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Creating Market Segments: A Guide for Students
This article provides a step-by-step framework for building segments using no or very limited data, leaning on creative reasoning, existing market research frameworks, demographic logic, industry knowledge, and supportive “educated guessing.”
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An Introduction to Cluster Analysis for Segmentation
Cluster analysis is a method that helps you group together consumers with similar responses, preferences, or attributes. Cluster analysis is not just for mathematicians or data scientists; its insights are equally relevant to marketing students who want to create powerful, data-informed segmentation strategies
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How to Use Segmentation Trees
Segmentation trees are a versatile, intuitive, and cost-effective method for dividing a broad market into specialized subgroups. By visually branching out from a single trunk (your overall market) into multiple branches (subgroups based on age, income, behavior, psychographics, or combinations thereof), you can arrive at a clear depiction of who your target consumers might be.
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An Overview of Product-Variety Marketing
In this article, you’ll explore the history of product-variety marketing, learn about the factors that contributed to its emergence and widespread use, and understand how it has influenced consumer choice and competition.
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Market Segmentation versus Product-Variety Marketing
You’ll often come across the concepts of market segmentation and product-variety marketing. Understanding the differences between these two approaches is crucial for developing effective marketing plans.
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Why Use Market Segmentation?
Discover why market segmentation is essential for your marketing. Learn the benefits, trade-offs, and how targeted marketing can drive profitability and competitive advantage.
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Formal Definitions of Market Segmentation
There are multiple variations of formal academic definitions of market segmentation, but they all share a similar core idea. And we can summarize the definition as the process of dividing a broad market into smaller, well-defined groups of consumers with similar characteristics, needs, or behaviors.
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A Quick Introduction to Market Segmentation
Market segmentation is the process of splitting an overall market into two or more groups of related consumers, where each of these related consumer groups (known as market segments if correctly defined) are somewhat similar to each other in terms of their buying characteristics and/or product needs.
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The Difference between Primary and Secondary Target Markets
Sometimes the terms of primary and secondary target markets are confused and misunderstood, and a secondary target market is inadvertently referred to as a “second” target market, however this is not correct.
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