Why Is Target Marketing Important To Market Segmentation?
Market segmentation is the process of distinguishing your target market from the market as a whole. It’s the actual research process that makes target marketing possible. Market segmentation is what marketing experts call this research process. There are many ways to conduct market segmentation research, but the most common involves first determining the target market’s demographic characteristics. This in turn reveals many psychographic and behavioral characteristics. Using age to reveal generation and life stage is just one example. Why Is Target Marketing Important For Conserving Resources? Target marketing conserves your small business resources for marketing to the people most likely to buy what your business sells. In this day and time, you can’t afford to waste any resources. You need to get as much return from your marketing investments as possible. So having a target market is vital. It enables you to sell more products and services with fewer marketing resources.
