Market Segmentation

Market segmentation creates marketing efficiency.

By identifying the right target markets, marketers can put their resources to best use. When conducting primary market research, analytical techniques can be used to identify groups based upon attitudinal or socioeconomic variables.

Data mining, an analysis of your existing customer data, also helps to identify your best customers and purchase patterns (when customers buy your services).

Potential segmentation variables:

· Strong attitudes toward your brand

· Education level and income

· High level of need for a product/service

- Role in the decision making process