1 thought on “How to do market segmentation?”

  1. Market segmentation should follow certain procedures. Generally speaking, it is divided into the following steps.
    1. Selected product market scope
    The enterprises should determine the scope of entering the market according to their own operating conditions and operating capabilities, such as what industry, what products to produce, and what services to provide, and use this as the basis for formulating market development strategies.
    2. Listing the needs of potential customers
    This can list the needs of all potential customers within the market from the aspects of geography, population, psychology, and behavior.
    3. Analyze the different needs of potential customers
    Brip according to the various needs listed, the market segments with the largest differences are preliminarily divided, and then different potential customers are sampled to investigate and evaluate the demand factors listed. Understand the common needs of customers.
    4. Select the target market
    The investigation, analysis, and assessment of various market segments, eliminate non -requirements and useless market segments, and finally determine the market segment, that is, the target market.
    In the above steps, the company has completed the market segmentation work, and then can formulate and adopt corresponding marketing strategies for the target market.

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