Segmentation in business; is the method of dividing business into correlated groups that enhances the business view. For structural growth in business, segmentation is an imperative and effective means to achieve the end result. With emerging smaller franchises the need to find ‘that subtle’ difference to bring forth the marketing edge is very important.

Opportunities in marketing increase when segmented groups of clients and customers with varying needs and wants are recognized. Markets can be segmented or targeted using a variety of factor. The bases for segmenting consumer markets include:

Demographical bases (age, family, gender, occupation, ethnicity)
Geographical bases (cities, states, regions, countries)
Behavior bases (product knowledge, usage, attitudes, responses)
Psychographic bases (lifestyle, values, personality)

A business must analyze the needs and wants of different market segments before determining their own niche. To be effective in market segmentation, keep the following things in mind:

Segments or target markets should be accessible to the business
Each segmented group must be large enough to provide a solid customer base.
Each segmented group requires a separate marketing plan.

Large companies segment their markets by conducting extensive market research projects. This research is often too expensive for small businesses to invest in, but there are alternative ways for a small business to segment their markets.

If you are looking for targeting mailing list and customer segmentation and profiling, please, contact us and our marketing experts will be able to assist you.