Marketing is the art of knowing how to sell a product and getting it directly to the hands of the consumers. Of course in order to do this, one has to know which group of customers he should actually zoom in on. The art of determining which group of people a marketer should push his product to is the art of making a market segmentation strategy.
In order to develop good strategies, a marketing person should always first consult the Maslows Hierarchy of Needs because this will be his basis on what kind of people he must target for his product. The levels of this hierarchy are the basic needs, safety needs, belonging, self esteem, and of course self actualization. The product that will be sold must fall into either one of these categories of needs and it is up to the marketer to determine which one.
By knowing what need the product would satisfy, one would know who he should be selling his product to. As one can see, the type of product that one will be marketing would be directly related to the hierarchy of needs. From knowing what need the product can satisfy, one can now go deeper into the specific customer that has to be served.
Once one has already defined what category his product fits in, then it is already very easy to know what group of people to target. The first thing to look at in a group of people would be the basic demographics. The most basic contents of demographics would be the age, gender, social class, and of course ethnicity.
When one has already determined the demographics of the target segment, then it is time to go a little bit more micro when it comes to the consumer. Now the psychographics would involve the lifestyle of the consumer and how the mind of the consumer would work. Basically, psychographics would cover the activities, interests, behavioral patterns, and opinion of the consumer.
Of course a business would want their customers to remain loyal which is why they must also know how to target those who will keep on using the product. Basically, the behavioral patterns will must be specifically identified so that one will be able to zoom in on the right people. In a nutshell, the behavioral patterns target the rate of usage, usage patterns, price reaction, and brand loyalty.
With the help of the price, product, place, and promotion strategies, one may now be able to come up with a strategy in targeting the specific group of people to sell the product to. Basically, one has now already determined the target segment at this point. From there, a great plan for zooming in on them can be made.
So as one can see, making a market segmentation strategy not only takes a look at the consumers but also at the product. Basically, one has to take a look at the product then the specific customer that should be serviced. It is a process that goes from broad to specific.
In order to develop good strategies, a marketing person should always first consult the Maslows Hierarchy of Needs because this will be his basis on what kind of people he must target for his product. The levels of this hierarchy are the basic needs, safety needs, belonging, self esteem, and of course self actualization. The product that will be sold must fall into either one of these categories of needs and it is up to the marketer to determine which one.
By knowing what need the product would satisfy, one would know who he should be selling his product to. As one can see, the type of product that one will be marketing would be directly related to the hierarchy of needs. From knowing what need the product can satisfy, one can now go deeper into the specific customer that has to be served.
Once one has already defined what category his product fits in, then it is already very easy to know what group of people to target. The first thing to look at in a group of people would be the basic demographics. The most basic contents of demographics would be the age, gender, social class, and of course ethnicity.
When one has already determined the demographics of the target segment, then it is time to go a little bit more micro when it comes to the consumer. Now the psychographics would involve the lifestyle of the consumer and how the mind of the consumer would work. Basically, psychographics would cover the activities, interests, behavioral patterns, and opinion of the consumer.
Of course a business would want their customers to remain loyal which is why they must also know how to target those who will keep on using the product. Basically, the behavioral patterns will must be specifically identified so that one will be able to zoom in on the right people. In a nutshell, the behavioral patterns target the rate of usage, usage patterns, price reaction, and brand loyalty.
With the help of the price, product, place, and promotion strategies, one may now be able to come up with a strategy in targeting the specific group of people to sell the product to. Basically, one has now already determined the target segment at this point. From there, a great plan for zooming in on them can be made.
So as one can see, making a market segmentation strategy not only takes a look at the consumers but also at the product. Basically, one has to take a look at the product then the specific customer that should be serviced. It is a process that goes from broad to specific.
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