HOW TO MAKE A MARKET SEGMENTATION Market segmentation strategies. Now that you know how market segmentation is done. You must decide what type of market segmentation strategy you are going to apply. Before implementing your marketing actions. These are the best strategies. That you can apply in your processes: Personalize segmentation strategy : adapt the products. And the corresponding marketing actions— to the tastes and needs of each segment. It is base on segmenting the market, and then selecting two or more groups. That will be your target audience. And base on those two segments. You will implement all your marketing strategies to promote your business online .
If you choose to offer your products to most of the market. Without differentiating between segments, you will be applying an undifferentiated strategy. This option is usually cheaper, since it tries. To reach as many consumers as possible. But we have already seen that it is not the most optimal strategy. Concentrate segmentation strategy : when you have establish. The different segments, you are going to concentrate all your marketing efforts in a single group. If you manage to focus on the most profitable segment. You can get good returns with little investment. In fact, this is the right strategy for online stores with a limit budget .
Undifferentiated Segmentation Strategy
market segmentation concept Examples of market Ukraine phone number segmentation. Now we are going to show you some examples. That will give you an idea of the importance of market segmentation, since all of them have been implement by large companies. Bimbo market segmentation Bimbo is one of the most important baking companies in the world. In fact, in Latin American countries such as Mexico, it is the absolute market leader. Its market segmentation strategy is very clear: offer products according to each specific segment, base on geographic, demographic, psychological and behavioral characteristics .
This means, for example, that Bimbo’s traditional toast bread is aim at consumers from the American continent, aged between 18 and 50, who consume it for breakfast because they consider it to be a product of the highest quality. market segmentation criteria Coca Cola market segmentation Although a priori it may seem that Coca Cola’s market segmentation is an undifferentiat strategy, the truth is that this brand does not intend to reach all consumers in the market with a single product. In fact, their specific strategies are gear towards different segments . That is why they sell two-liter bottles that are intend for family consumption, while one-liter bottles are usually bought in pairs, with individual consumers buying cans or bottles.
Market Segmentation Definition
On the other hand, younger children are offer fruit juices; and those who want to stay in shape —or suffer from diabetes— have light or zero soft drinks . Nike market segmentation Nike’s market segmentation spans multiple segments as it offers different types of shoes depending on the target group. In general, it focuses more on the most profitable segments due to their volume . For this reason, its catalog focuses mainly on shoes for athletics, soccer and basketball. That is the reason that its advertising campaigns are starred above all by stars such as the soccer player Cristiano Ronaldo, the basketball player Michael Jordan or the sprinter Allyson Felix.
Market segmentation example Starbucks market segmentation Starbucks market segmentation is also very interesting because it follows the same criteria as other multinationals . First, they decide which geographic market they are going to target. For example: United States. Then they segment by demographic criteria: customers between 20 and 40 years old, of both genders. From a psychographic point of view, his target group consists of upper and upper-middle class people. In addition, they know that their cafeterias are attended by many professionals dedicated to executive tasks and that they interact a lot on a social level. Finally, the behavioral criterion indicates that their target customers are highly brand loyal and often go to Starbucks on weekends for social status reasons.