Principles of Market Segmentation

William D. Neal

This paper covers the basic tools used to divide a market into discrete customer segments for more efficient marketing.

Principles of Market Segmentation

William D. NealSDR Inc.

For most business firms, locating and specifically targeting unique market segments is both a reality and a necessity in today's competitive marketplace. In North America, for example, the assumptions of the mass market no longer hold true for most businesses and product categories.

Creative market segmentation strategies often afford the business organization a strategic advantage over its competition. Foreign firms often enter a domestic market by segmenting the market, uncovering an underserved niche, and then concentrating their marketing and financial resources into that niche.

WHAT IS MARKET SEGMENTATION?

In order to...

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