SMALL BUSINESS VIDEO SERIES
- Customer Segmentation and “Unsegmentable” Markets
- How To Segment Markets
- Know Who You Are and the Benefits of Segmentation
Understanding customer segmentation and “unsegmentable” markets can be critical for the success of a small business. In the following video Dr. Andrea Scott, an assistant professor of marketing at the Graziadio School, explains customer segmentation and answers the question, “What if my market doesn’t seem segmentable?”
Everyone is not your customer and markets can always be segmented. Avoid wasting resources and increase profits through accurate customer segmentation.
Remember, seemingly “unsegmentable” markets typically apply to wildly popular brands like Facebook and Google.
How To Segment Markets
Factors to consider and questions to answer when segmenting market space. In addition to looking at demographics, owners should also consider situational factors, business records, usage/loyalty rates, and analyze “cousin” industries.
Know Who You Are and the Benefits of Segmentation
Clearly understand and define your competencies/strengths before segmenting and attacking your market. Segmentation helps identify profitable customers and new growth opportunities, which leads to increase in revenue.
Dr. Andrea Scott’s expertise include advertising, cause-related marketing, branding, B2C marketing, market research and promotions, as well as targeting and segment. Among her topics of interest is the use of social marketing to advance societal or health-related behavior changes such as to reduce/end drunk driving and to stop smoking.
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