What is a Market Segment?
A market segment is a homogeneous group of prospective buyers that have common needs and will respond similarly to your marketing call to action. You usually segment a market when different groups perceive a different value for your product or service than another group. This helps you develop your marketing activities and messages so that you do not come off as being all things to all people. Why Segment? Analyzing your target market and dividing it into individual segments can offer you insight into which segments you can more successfully service based on your current resources and skills, alert you to a market segment that is losing money or one you are not capable of servicing effectively, or help you understand what you need to do to expand your business to include a particular segment. This analysis may help you determine that one particular segment is so lucrative that you only want to work with that segment even though the others are out there that you could effectively servic
