Customer Segments

Customer Segments

Brief

-the community of customers or businesses that you are aiming to sell your product or services to.

 

-process of dividing customers into groups based on common characteristics so companies can market to each group effectively and appropriately.

 

-begins with gathering and analyzing data and ends with acting on the information gathered in a way that is appropriate and effective.  

 

Needs

· create marketing messages that will resonate with specific groups

· select the best communication channel (i.e. email, sns, radio advertisement, etc)

· focus on the most profitable customers

 

Types (Customers) 

In business-to-consumer market, companies often segment customers according to

Age, Gender, Marital status, Location, Life stage -> Static Data

Purchase Motivation (App, web surfing, sns etc) -> Behavior Data

 

with these, corps profile a customers and make a strategy

 

Types (Market)

· Mass Market

Target the Mass Market are appealing or fulfill the needs of a wide section of the customers.

 

· Niche Market

Extremely defined characteristics and particular needs.

 

· Segmented

Which may have very minute variations in their needs and requirements.

 

· Diversified

corps sees value in investing and appealing to both business and customers like amazon.com.

 

· Multi-Sided Platforms/ markets

business sense to serve both customers and customers (can be a sellers or buyers).

eBay, operates with Multi-Sided markets by requiring the presence of both buyers and sellers.

 

How To

gather specific/big data about customers and analyze it to identify patterns to create segments.

To get such information, some methods can be used. 

 

i.e.

Face-to-face, Tel interview, Surveys, Research about market categories, etc -> Typical

Sns or Web surfing history, Location, Data broker, Pixel, etc                     -> Smart

 

Resources

Customer Segmentation Definition - What is Customer Segmentation:

https://www.shopify.com/encyclopedia/customer-segmentation Business model canvas: Customer Segments:

Customer Segmentation Definition - What is Customer Segmentation

Business model canvas: Customer Segments:

https://www.cleverism.com/customer-segments-business-model-canvas/

Business model canvas: Customer Segments