How to drive massive sales by using market segmentation: By Francis K. Kamau.

Mass market is dead, people are no longer part of the one big family, but are members of small “tribes”. These “tribes” share a lot in common and it’s due to this that marketing has evolved from mass marketing to segment marketing.

Each of this “tribe” share similar psychographics and demographics. The global market which is what we serve online opened up geographical borders, making it hard for anyone who uses geographical segments to succeed. Thus the marketer is left with other demographics, psychographics, needs, and other segmentation criteria to succeed online.

With the customer having many options to get his /her needs satisfied and with a lot of product information allover the internet, you as the marketer must understand which “tribe” your customers come from and who they are. This process is what marketers call market segmentation.

Market segmentation is making of markets segments. A market segment is a group of people or organizations sharing some common attributes. These attributes could be demographics, i.e. similar race, come from the same geographical location, same age groups, and same social economics attributes. A market segment could be psychographics oriented i.e. similar lifestyles, values etc. A market segment could be based on needs, i.e. patients in a private hospital, passengers in a train, and football fans in a stadium.

In marketing segmentation you as a marketer must make sure that a market segment is homogeneous. This is within the segment and in their shared attribute (s).
But a market segment must be heterogeneous across different segments i.e. the football fans segment is different from the patient is a mental hospital, even if both segments could be shouting at the same time. This is because their motivation to shout is different between the football fans segment and the mental hospital patients segment.

Market segmentation therefore is a classification of your market into distinct segments having similar demographics, or psychographics or needs, or lifestyles, or purchasing patterns.

Market segmentation presents you with the “tribes” that your product fits best. These “tribes” are what marketers call market segments. A market segment consists of a group of customers who share a similar set of needs. As a marketer you must identify the most suitable segment for your products and services.

Unlike the mass market product, the market segment product is fine tuned to fit the profile of the intended segment. The marketing mix which includes the price, product, promotion, people and place must fit with the target market.

This way you will be able have niches that requires their own marketing strategies, marketing mix and a certain way of selling to them. This way, you will achieve your marketing efficacy that will improve you sales tremendously. This way your profit and overall customer satisfaction will improve for the better.
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About the Author
Francis K. Kamau has been in market research for the last 12 years. He has managed market research project for market segmentation across many products, new product development, customer satisfaction, advertisement research among other research projects. He has 5 blogs to his name.