The aim of segmentation is to tailor marketing efforts to your ideal customer profile (ICP), i.e. the customers most likely to buy your product or service. For example, a customer at an organic food shop is likely to have some or all of these characteristics: Gender: Male or Female. Age: 25-44.
What is meant by market segmentation?
Market segmentation is a process companies use to break their potential customers into different sections. This allows the company to allocate the appropriate resource to each individual segment which allows for more accurate targeting across a variety of marketing campaigns.
What are the 4 types of market segmentation with examples?
An example of marketing segmentation using demographics is to combine age and income information to target older, wealthy retirees looking to relocate to Florida to sell beachfront property. Another demographic strategy would be marketing fantasy or war-based video games primarily to younger individuals ages 18-30.