Market segmentation and targeting

Market segmentation and targeting is the process of dividing a market into smaller groups of consumers with similar needs or characteristics and then selecting specific segments to target with tailored marketing efforts. This includes identifying market segments, analyzing segment demographics, and evaluating segment potential. It also includes selecting segments to target and developing marketing strategies that are tailored to the needs of these segments.

Beginner competence definition

Beginners understand the basic concepts of market segmentation and targeting, including the importance of dividing a market into smaller groups of consumers with similar needs or characteristics and then selecting specific segments to target with tailored marketing efforts.

Intermediate competence definition

Intermediate individuals are able to identify market segments, analyze segment demographics, and evaluate segment potential. They can also select segments to target and develop marketing strategies that are tailored to the needs of these segments.

Advanced competence definition

Advanced individuals have an in-depth understanding of market segmentation and targeting principles and are able to use data and market research to inform market segmentation strategy, evaluate the effectiveness of targeting efforts, and make strategic decisions to drive business growth.