Structured Approach to Market Segmentation and Targeting PPT

This PPT slide, part of the 407-slide Complete Business Frameworks Reference Guide PowerPoint presentation, outlines a structured approach to segmentation and targeting, essential for effective market analysis. It is divided into 5 key steps: Define Scope, Select Segmentation Bases, Gather Data, Analyze Data, and Target. Each step is accompanied by actionable items that guide the user through the segmentation process.

In the "Define Scope" section, establishing research objectives is emphasized. This involves reviewing the viability of segmentation and determining the necessary criteria, such as time and detail level. Seeking expert guidance is also recommended, indicating the importance of leveraging existing knowledge.

The "Select Segmentation Bases" step focuses on choosing the type of market segmentation. Here, generating hypotheses about the market is crucial, along with determining the specific criteria or variables for segmentation. This sets the foundation for the subsequent data gathering.

Gathering data is the next phase, where designing a data collection approach is highlighted. Various methods such as phone surveys, workshops, and focus groups are suggested, ensuring a comprehensive understanding of the market landscape.

In the "Analyze Data" section, identifying attributes from customer interviews and employing statistical techniques like cluster analysis are key. Grouping these attributes into manageable segments allows for clearer insights into market dynamics.

Finally, the "Target" step evaluates the attractiveness of each segment. This involves assessing size, growth potential, and alignment with the company's value proposition. The focus on validating segments and conducting gap analysis ensures that the selected target segments align with organizational capabilities.

Overall, this slide serves as a practical guide for executives looking to implement a systematic approach to market segmentation and targeting, ensuring informed decision-making.

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