Steps to realize a segmentation of markets
24 November 2008 - 15:55
The segmentation of markets consists of segmenting or dividing the total market that exists for a product in different homogenous markets (made up of consumers with similar characteristics), and then, to select among these resulting markets, the market or the markets that are more attractive to penetrate.
The reason of segmenting the market is that the total market that exists for a product so ample and is varied, that he is not profitable to adapt our product for each type of consumer that can exist in this market, most reasonable is to identify types of consumers with similar characteristics, to select the most attractive group for our business, and to focus to us only in him, to specialize us in him, and to direct to our product or service only towards him, obtaining therefore a greater effectiveness.
In order to have in more clear the concept of the segmentation of markets, we see next which are the steps or stages to realize one:
1. To segment the total market
In the first place we identified the total market that exists for our product we segmented and it or we divided in different homogenous markets (made up of consumers with similar characteristics) with the purpose of to be able to realize a better analysis.
In order to do this segmentation we can to use many variables, for example, location (from where they are the consumers), rank of age (if they are young, adolescent, adult), sort (O-Men women), socioeconomic level, style of life, behaviors of purchase, etc.
2. To select our objective market
Once we have segmented the total market that exists for our product, we happened to select one or several resulting submarkets of this segmentation, that are most attractive to penetrate, basing us on our capacity, our knowledge and our experience; and also considering, that is sufficiently ample and counts on sufficient economic capacity.
This selected market happens to become our objective market, market puts, niche of market or objective public; it happens to be the market to which we are going away to direct, and on the basis of which we are going to design our strategies of marketing.
3. To define the profile of the consumer of our objective market
Once selected our market it puts, for a better analysis of this one, we happened to define the profile of the consumer conforms who it, that is to say, described or indicated which are his main characteristics (basing to us mainly on the variables that we have used previously to segment the market), for example, we indicated where he locates, which is its rank of age, which are their tastes, which its preferences, which are his habits of consumption, which are their behaviors of purchase, which are their attitudes, etc.
4. To design the marketing strategies
Once we have defined the profile of the consumer who conforms our objective market, we happened to design our strategies of marketing, according to this profile, for example, we designed products that they look for to satisfy its tastes or needs, we establish prices according to its economic capacity, establish channels of sale or distribution that are in charge to distribute or to sell our products in the places where usually it frequents, we establish advertizing messages that better results can have in him, etc.
5. To look for new markets
When initiating a new business, the recommendable thing is to look for small, but attractive markets, but as they increase to our sales and experience, we can choose to make new segmentations and select new markets to which to penetrate, and, that way, to be able to send new products, to create new marks, to establish new channels of sales, to design new advertizing means, abrir the new premises, etc., in summary, to let grow our business.
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Labels: Concepts, Study of market, Marketing, Step by step
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