Segmentation is at the very heart of marketing.
A segment is a group of individuals or companies with a common attribute that causes them to share similar needs. Marketers tailor their products, services and communications to these common attributes in order to ensure that their offering meets market requirements.
Segmentation is a means of capturing value – customers receive and pay for benefits they value; conversely they neither receive nor pay for benefits they do not value.
B2B International are amongst the most experienced market segmentation experts in the industry, and we have written extensively on the subject. A selection of this thought leadership is shown below:
No company has the resources to successfully satisfy every potential target market. This article, part of our series on developing a marketing strategy, aims to explore how you can build an effective customer segmentation.
Effective segmentation is not easy – especially in the B2B environment – but it is the key to success. Only by appreciating the challenges you face, can you ensure your approach is correct. This infographic highlights eight segmentation challenges in B2B marketing.
Following ten instructed stages – starting from the rationale behind the segmentation, through to the final implementation – this step-by-step infographic will lead to successful business segmentation.
What does make people switch? What is it that makes someone change their mind or their behaviour? These are crucial questions to any marketer and particularly baffling to the business-to-business marketer.
Segmenting your market is crucial for business success. Here, we outline 10 key steps you can use to carry out a market segmentation for your business.
The essential element of the sales manager’s survival kit is good information, particularly in four areas: the company’s sales, the structure of the market, detailed knowledge of buyers and the strengths and weaknesses of the company vis-a-vis the competition.
Satisfying people’s needs and making a profit along the way is the purpose of marketing. However, people’s needs differ and therefore satisfying them may require different approaches. Identifying needs and recognising differences between groups of customers is at the heart of marketing.
Good implementation of service excellence can create stronger customer loyalty, worthwhile differentiation and sustainable competitive advantage. It’s therefore critical to implement well and the following should help those looking for ways to do this.
High growth depends on how you set yourself up to deliver value into the market. Colin Mason at the Hunter Centre for Entrepreneurship, University of Strathclyde and Ross Brown at Scottish Enterprise report on how fast-growth enterprises design their business models.
Market researchers are dogged by nagging doubts. Can we believe what people tell us in response to questions about their behaviour? In other words, to what extent is what people say, what they actually mean and what drives their behaviour?