Marketing is the art of knowing how to sell a product and getting it directly to the hands of the consumers. Of course in order to do this, one has to know which group of customers he should actually zoom in on. The art of determining which group of people a marketer should push his product to is the art of making a market segmentation strategy.
The most basic concept where a lot of other concepts would stem out from would be the Maslows Hierarchy of Needs simply because it is the concept that will determine what type of product one will have to sell. For those who do not know, the components of the hierarchy involve the things that are needed to survive, the things needed for being safe, the things needed to belong in a group, and the things needed to boost esteem. In any business, a product will definitely have to be in one of these categories.
These categories will give one an idea on what he is going to sell. With regard to the hierarchy, one can actually relate the needs here to the type of products that are being sold in the market. For example, the survival needs are provided by the convenience products, the self esteem or actualization needs will be covered by the luxury items, and so on and so forth.
Once one has already defined what category his product fits in, then it is already very easy to know what group of people to target. The first thing to look at in a group of people would be the basic demographics. The most basic contents of demographics would be the age, gender, social class, and of course ethnicity.
By going deeper, this means that the marketer has to analyze the the movements of the customers in order to know how they work. In order to do this, he has to determine the psychographics to know the cluster of behavior patterns. A marketer has to take a close look at how the consumer behaves, where he likes to go, and what he likes to do.
Brand loyalty is also a very important aspect of marketing that can be solved by the use of good segmentation. Now through the psychographics, one can now take a closer look at how each consumer behaves. The marketer will be concentrating on how the consumer behaves with regard to the product like how many times the consumer uses it, if he buys it all over again, and how he reacts to the price.
With the help of the price, product, place, and promotion strategies, one may now be able to come up with a strategy in targeting the specific group of people to sell the product to. Basically, one has now already determined the target segment at this point. From there, a great plan for zooming in on them can be made.
So if one is in the field of marketing, he will be tasked to make a really good market segmentation strategy based on these concepts. With these concepts in mind, it is actually possible to come up with a lot of plans. However, this process has to be done well in order to do so.
The most basic concept where a lot of other concepts would stem out from would be the Maslows Hierarchy of Needs simply because it is the concept that will determine what type of product one will have to sell. For those who do not know, the components of the hierarchy involve the things that are needed to survive, the things needed for being safe, the things needed to belong in a group, and the things needed to boost esteem. In any business, a product will definitely have to be in one of these categories.
These categories will give one an idea on what he is going to sell. With regard to the hierarchy, one can actually relate the needs here to the type of products that are being sold in the market. For example, the survival needs are provided by the convenience products, the self esteem or actualization needs will be covered by the luxury items, and so on and so forth.
Once one has already defined what category his product fits in, then it is already very easy to know what group of people to target. The first thing to look at in a group of people would be the basic demographics. The most basic contents of demographics would be the age, gender, social class, and of course ethnicity.
By going deeper, this means that the marketer has to analyze the the movements of the customers in order to know how they work. In order to do this, he has to determine the psychographics to know the cluster of behavior patterns. A marketer has to take a close look at how the consumer behaves, where he likes to go, and what he likes to do.
Brand loyalty is also a very important aspect of marketing that can be solved by the use of good segmentation. Now through the psychographics, one can now take a closer look at how each consumer behaves. The marketer will be concentrating on how the consumer behaves with regard to the product like how many times the consumer uses it, if he buys it all over again, and how he reacts to the price.
With the help of the price, product, place, and promotion strategies, one may now be able to come up with a strategy in targeting the specific group of people to sell the product to. Basically, one has now already determined the target segment at this point. From there, a great plan for zooming in on them can be made.
So if one is in the field of marketing, he will be tasked to make a really good market segmentation strategy based on these concepts. With these concepts in mind, it is actually possible to come up with a lot of plans. However, this process has to be done well in order to do so.
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