What is market segmentation strategy& why I need it?

When you start developing a marketing strategy, the textbooks tell us that the buyer persona is one of the first things to define. However, with time, the concept of a target audience gets too broad and generic to achieve the most impressive results.?

This is where market segmentation comes in. This marketing method creates targeted strategies that are essential to draw the attention of people who are already interested. In other words, instead of trying to convince an audience that the product you're trying to sell is worthwhile, you'll be able to place it in front of people who are already looking.??

Market segmentation strategy:

Market segmentation is the process of identifying a specific market that needs to be targeted and addressed. A lot of companies have been using segmentation strategies for quite some time now to better target their clients.

Here are a few reasons why this can benefit your brand:

Section topic: What are the three steps of a good marketing plan?

When you are in the market for a marketing plan, you may be asking yourself: what are the three steps that I should follow when designing one?

Introduction: A marketing plan is like a roadmap for how to achieve your goals.

Without this, you won't achieve your goals. Without goals, you won't know where to go next and thus it will be difficult to get what you want. It's not about making big sales or reaching target numbers, but rather achieving an overall goal in a more sustainable way than one would expect from just getting sales figures alone.

Market Segmentation: Key Criteria

You can and should define your own customer segmentation, but the key textbook examples are:?