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Today there is a trend toward targeting multiple segments. Very often, companies begin their marketing with one targeted segment, and then expand into other segments. This often boosts a company’s competitive advantage and knowledge of the customer base. One of the most promising developments in multivariable segmentation is “geodemographic” segmentation.
3.1.2 Requirements for Effective Segmentation
To be useful, market segments must be:
1) Measurable: The size, purchasing power, and profiles of the segments can be measured.
2) Accessible: The market segments can be effectively reached and served.
3) Substantial: The market segments are large or profitable enough to serve.
4) Differentiable: The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
5) Actionable: Effective programs can be designed for attracting and serving the segments.
Today there is a trend toward targeting multiple segments. Very often, companies begin their marketing with one targeted segment, and then expand into other segments. This often boosts a company’s competitive advantage and knowledge of the customer base. One of the most promising developments in multivariable segmentation is “geodemographic” segmentation.
3.1.2 Requirements for Effective Segmentation
To be useful, market segments must be:
1) Measurable: The size, purchasing power, and profiles of the segments can be measured.
2) Accessible: The market segments can be effectively reached and served.
3) Substantial: The market segments are large or profitable enough to serve.
4) Differentiable: The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
5) Actionable:
Today there is a trend toward targeting multiple segments. Very often, companies begin their marketing with one targeted segment, and then expand into other segments. This often boosts a company’s competitive advantage and knowledge of the customer base. One of the most promising developments in multivariable segmentation is “geodemographic” segmentation.
3.1.2 Requirements for Effective Segmentation
To be useful, market segments must be:
1) Measurable: The size, purchasing power, and profiles of the segments can be measured.
2) Accessible: The market segments can be effectively reached and served.
3) Substantial: The market segments are large or profitable enough to serve.
4) Differentiable: The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
5) Actionable: Effective programs can be designed for attracting and serving the segments.
Today there is a trend toward targeting multiple segments. Very often, companies begin their marketing with one targeted segment, and then expand into other segments. This often boosts a company’s competitive advantage and knowledge of the customer base. One of the most promising developments in multivariable segmentation is “geodemographic” segmentation.
3.1.2 Requirements for Effective Segmentation
To be useful, market segments must be:
1) Measurable: The size, purchasing power, and profiles of the segments can be measured.
2) Accessible: The market segments can be effectively reached and served.
3) Substantial: The market segments are large or profitable enough to serve.
4) Differentiable: The segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
5) Actionable: