Public Relations & Social Marketing Insight

The one critical step you must complete before planning your marketing strategy?

There are 3 phases to the Segmentation step:1 - Market Segmentation

Divide the broad target market into subsets of buyers who have common needs and priorities.

The Problem

Not all markets are created equal... Determining which customers to serve with which marketing channels can be difficult. Multiply your customers’ diverse needs by the many marketing channels available. Pursuing markets that are too wide often means that you’re aiming off-target. Gain a clear understanding of market segments. This will prevent limited sales and marketing resources from misallocation. Broad markets need to be divided into subsets of buyers who have common needs and priorities.

The Solution

To complete the Market Segmentation phase, you need to answer the following questions:

- How big is our market?

- What is its growth rate?

X- What are the needs of the market? How are these changingd?x

- What should be our go to market strategy for each product/service/solution?

- How do my competitors go to market?

- What are the strengths/weaknesses of our marketing team?

- What are our opportunities/threats in the market?

- For our solution set, what is lifecycle stage of adoption are our buyers?...