The consumer market is not a homogeneous mass, but consists of diverse groupings with different needs and preferences.
Target group segmentation is a method that gives you precisely this perspective: it enables you to divide your broad consumer mass into clearly defined subgroups.
The individual segments, consisting of individuals with similar values, attitudes, needs and behaviours, help you to develop a comprehensive and nuanced understanding of your customers and to adapt marketing strategies to your target group.
Fields of application for segmentation
Here are some possible areas of application and solutions for target group segmentation:
- Analyses to deepen the understanding of target groups
- Segmentation for the development of effective marketing campaigns
- Target group analyses for start-ups
- Review of existing segments for market expansions
- Global segmentation solutions for clients seeking a worldwide presence
- Segmentation adjustments to changing online market conditions
Segmentation process flow
The segmentation of target groups in detail works by dividing a heterogeneous market into smaller, more homogeneous subgroups or segments. These segments are formed on the basis of common characteristics such as demographic data, behaviour, preferences, needs or attitudes. The segmentation process essentially comprises three steps:
1. data collection: first, we collect extensive data about the potential customers. The data can come from various sources, such as customer surveys, sales data, social media, market research reports and more.
2. analysis and identification of patterns: We analyse the collected data to find patterns and commonalities within the overall market, for example using cluster analyses to identify similar groups.
3. formation of segments: We then form segments based on the patterns identified. Each segment should be homogeneous in itself and yet clearly distinguishable from other segments.
Your contact
I will gladly advise you.
Dr. Jörg Munkes
Managing Director