Market segmentation allows you divide a broad target market into subsets of buyers. These buyers have common needs, priorities, and solution options. This step is critical to success, as not all markets are equal. But there is often confusion and difficulty associated with it. How can you really determine which markets to address? To combat this problem, I recently hosted a debate with Mike Drapeau, Partner, and Kevin Avery, Senior Consultant, around the topic of market segmentation.
During the show, Mike and Kevin will discuss common misconceptions surrounding segmentation analysis. They’ll also answer questions such as:
- How can you determine if you should compete in an emerging market? And what happens if you opt not to?
- How often should you update your market segmentation data?
- How can you maintain an advantage over your competitors using market segmentation?
Understanding which markets, and customer segments to target is not easy. Listen here as we discuss market segmentation strategy. Because if you don’t have this in place, your resources will not be allocated effectively, resulting in missed revenue objectives. Instead, use market segmentation to narrow your team’s focus to what really matters.