Market segmentation is the process of dividing a target market of potential customers into segments with common characteristics. Through a process of audience analysis, segments are composed of consumers who respond similarly to marketing strategies and share traits such as similar interests, needs, or locations. Marketers often measure their performance at attracting these market segments with KPIs.
You can’t be all things to all buyers. You can, however, be the right solution to a large enough group of buyers to successfully grow your business, if you can implement a smart segmentation strategy.
