When creating your business plan or establishing your next product launch, establish who your target buyers are. Once you have the overall market for your products or services, break that larger group down into smaller sections, called segments. A market segment looks at the smaller groups to find specific consumer needs unique to that section. Your overall market is the group of people who can benefit from using your products and services.
Market segments are not always based on general demographic information. You could target segments based on details such as buying habits, political affiliation, favorite pets, or travel habits. When you understand how your product effectively helps your market, you are ready to build an advertising campaign.
Divide your market into micromarkets, or segments, based on segmentation bases or variables. The most common segmentation categories and corresponding bases include Geographic, Demographic, Psychographic, Benefits Sought, Behavioral.
Small businesses often have budget limitations for marketing and advertising. This is why market segmentation is so important. If you try to advertise to everyone, you might blow the budget out of the water before you see results. Targeting market segments maximizes marketing dollars with generated revenues.
To segment your market, start by choosing a category and relevant base, then a few examples. For example, you could segment your market by demographic based on age group, which may break down into children, teenagers, young adults and older adults. You might also segment your market by behavior based on their shopping style, which could further divide into consumers who enjoy shopping, those who only shop when they have to and those who actively avoid it.
A fundamental step in determining marketing strategy, segmentation is the process of dividing markets or consumers into specific groups. Through proper segmentation, you can identify niches with specific needs, mature markets to find new customers, and deliver more focused and effective marketing messages. This template is ideal for communication professionals, marketers and advertisers.
This template will be useful for marketers and advertising professionals. You can use the slides from this template when preparing a marketing strategy or designing an advertising campaign. For example, you can group potential consumers of your company’s products and conduct different advertising for each target group.
Also, this template will be useful for sales managers when creating the ideal client for the company. Startup executives can use the slides from this template in preparation for their investor meeting. You can detail the target customer groups who will be interested in purchasing your product. Also, you can present two product options for each of the target groups. For example, products may differ in their functionality depending on the gender or age of the customer.
Public relations professionals can use this template when preparing a candidate’s campaign. You can provide data on voters who would like to vote for your candidate. You can present the data as a percentage by dividing voters into groups by gender, age, income, or other criteria.
Available in five design variations, this PowerPoint template features line graphs with clusters of demographics, each color-coded to represent a unique group. Present user research with statistical information, data call-outs, text descriptions and unique labels along an x- and y-axis. Uncover opportunities to grow revenue for your business and tap into new markets with this segmentation analysis template. All text, colors and graphs are 100% editable and customizable. Segmentation Analysis template has all the necessary tools to build a professional presentation and will take its rightful place in your collection of professional presentations.