arket segmentation has become a popular topic in marketing, marketing research and strategic planning. Market segmentation allows sellers to identify unique segments in the market so that they can tailor product features, services, distribution, pricing, and marketing communication messages specifically to each segment. Segmentation research allows sellers of products and services to quantify the sizes and potential economic/volumetric opportunities of the segments, describe the composition of each segment, and evaluate alternative segment-level marketing strategies. This document will discuss how segmentation can increase the effectiveness of a company’s marketing and communication efforts. Its purpose is to explain the uses of market segmentation and the basic steps for executing segmentation research. [BNET Annotation]
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