Marketing today is quite different from what it used to be. Gone are the days when brands would flood local newspapers with pushy promo pieces, or force heaps of wasteful brochures through your letterbox. Modern marketing is much smarter.
And it has to be, right? Competitors are in abundance, advertisements are omnipresent and, you guessed it, today, the customer is king.
This is where one of the most impactful advancements in marketing really comes into play. Market Segmentation. When used correctly, market segmentation has the potential to become your backbone. Your rock. The tool that skyrockets you to your rightful place in the market.
What is market segmentation? Well, to put it simply, it's the process wherein the market, or a portion of the market, is taken and placed into separate, homogeneous groups based on their shared identifiable characteristics.
I know what you’re thinking... this is all a bit too much, I need some sort of framework to guide my actions, to keep up to date with market trends, to address my goals and monitor my progress.
Well, don’t sweat it. Because, boy, do we have the right thing for you: