How can I implement market segmentation in my business?

How can I implement market segmentation in my business?

To implement market segmentation, start by identifying your target market and dividing it into distinct groups based on characteristics like demographics, psychographics, and behavior.

What are some common segmentation strategies I can use?

Common strategies include demographic segmentation, geographic segmentation, psychographic segmentation, and behavioral segmentation.

How do I choose the right segmentation strategy for my product?

Consider your product's unique features and the needs of your target audience. Analyze market research data to identify which segments are most viable.

Can you give me an example of a successful market segmentation?

Sure! A well-known example is Coca-Cola, which uses segmentation to target different age groups and preferences with products like Diet Coke and Coca-Cola Zero.