The purpose of this paper is to explore the reasons why such an important tool, segmentation research, so often fails to provide actionable results. More importantly, this paper will give the reader valuable and practical solutions on when (and when not) to use segmentation to address marketing issues, and how to create meaningful and relevant segments that can address business issues.
Part one of this two-part series on segmentation will reveal a four-step process for ensuring actionable segmentation, specifically:
- How to determine if segmentation is appropriate for your business issue.
- How to profile and segment a market.
- How to evaluate segments and choose targets.
- How to develop a marketing mix for targets.
If you are interested in launching a new product and want to know how to distinguish winning ideas from losers, you need to read this white paper.