Steps in market segmentation

  • Segmentation refers to the process of creating small segments within a broad market to select the right target market for various brands.
  • The first and foremost step is to identify the target market. The marketers must be very clear about who all should be included in a common segment.
  • Next, it is essential to find out the needs of the target audience.
  • The organizations should ensure their target market is well defined. Create subgroups within groups for effective results.
  • It is essential for the marketer to review the needs and preferences of individuals belonging to each segment
  • Give an appropriate name to each segment. It makes implementation of strategies easier.
  • Devise relevant strategies to promote brands amongst each segment
  • Review the behavior of the target audience frequently
  • It is essential to know the target market size. Collect necessary data for the same

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