Finding Your Target Market with Market Segmentation Infographic
When it comes to selecting the right target market for your brand, there are several steps you need to take to get there. Segmentation can be described as the process of creating small segments within a broad market in order to identify the right customers. Segmentation can help with meeting your customer's needs. The 8 steps shown above, from Management Study Guide, emphasize the importance of identifying the needs and expectations of your audience, creating sub-segments, and reviewing the demands of your target audience frequently. Make sure to research the size of your target market in order to help forecast sales and avoid poor market segmentation.