How do you identify target segments and customers?
Identifying target segments and customers is a crucial step in developing a successful strategy for your business. It helps you understand who your potential customers are, what they need, and how you can reach them. In this article, we will explain how you can use a systematic approach to segment your market and select your target customers.
-
Segment analysis and profiling:Dive into data collection through surveys and focus groups to analyze and profile your market segments. This hands-on approach gives you a clear picture of consumer needs and behaviors, paving the way for tailored strategies.
-
Strategic fundamentals:Apply industry, customer, and comparative analyses to shape strategic choices. This methodical approach helps you understand the competitive landscape and identify where your offerings fit best.