Marketsegmentation

Recognising customers’ differences is the key to successful marketing. It is crucial for offering products and services to meet customer needs, or identifying new markets.

Traditionally, marketeers in industrial (or business to business markets) have tended to define customers or markets through simple categorical descriptions, such as product, industry or geographical location. But this approach offers little in terms of recognising the diverse requirements or motivations of customers even within common product or industry sectors.

Needs based segmentation analysis

This approach is often referred to as 'Needs-based' segmentation.

By identifying and understanding the requirements of different groups of customers with similar needs, the marketeer can offer appropriate products and services or communicate effectively with a series of differentiated ‘markets’. 

Market Segmentation Strategy

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