Market Segmentation Survey

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Market Segmentation Survey

Marketing segmentation divides a large target audience into smaller groups with similar tastes and interests. Marketing strategies can then target these groups individually. Surveys play a vital role in understanding how you should develop your strategies.

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  • Criteria for segmentation

    Consider the criteria for the segmentation before you draw any lines. Seasoned marketers divide segmentation methods into seven types:

    1. Geography - Country, continent, city, or others.
    2. Demography - Refers to gender, age, occupation, and other similar aspects.
    3. Behavior - An individual's usage, loyalty, attitude, knowledge, or other behaviors.
    4. Lifestyle - Refers to activities, interests, and opinions.
    5. Culture - Sometimes more precise than geographical segmentation.
    6. Occasion - Analyzes the occasion in which product is bought.
    7. Benefit - Why the user bought the product.

     

    Marketers choose a method based on the product itself. Each product must consider its own selling points. WalMart prefers to segment on demography, such as gender and age. They have different clothing sections for men, women, and children. Each section is colored differently to appeal to the target demographic.

     

    Focus on the various tangible and intangible attributes customers associate with the product. Understanding these qualities will help you choose the segmentation method.

  • How to segment markets?

    Market research using a survey is the best way to segment the target market. A survey gives you a better picture of the product from the customer perspective. Understanding the product from a customer perspective gives us a picture of the desired attributes. This helps you understand the customer, on the other hand, can help us attach the desired attributes of the product to the customer's attributes. Hence creating a workable segment. For example, we might discover that men with an age between 20 and 30 desire style over durability.

  • Questions in marketing segmentation

    Every marketing segmentation survey should determine:

    1. What are the external characteristics of the segment?
      • Geographic
      • Demographic
      • Lifestyle
      • Economic and social status
    2. What are the internal characteristics of the segment?
      1. Culture
      2. Behavior
    3. What are the attributes that they love/hate in products and services?
    4. Who makes the purchase decision?
    5. What was their past behavior during purchase?
      1. Brand Loyalty
      2. Evaluation methods of product/service
      3. Attribute trade-off

     

    The above questions give us the necessary data to segment the market. While creating the segments we need to ask ourselves four questions:

    1. Can we attribute a profile to the segment?
    2. Can we reach the segment to deliver our product?
    3. Is the segment large enough to justify producing the product?
    4. Can a profit be made from the segment?

     

    Answers to all four questions must be a 'Yes'. There is a potential target market only if the segment can be profiled, reached, and profited from. If, for example, we can not profile our segment, we would not be able to tailor marketing strategies for them, defeating the purpose of segmentation.

  • How can Zoho Survey help you?

    Zoho Survey's features help you cut time and resources spent in the segmentation process. Going online can save a lot of paper, and Zoho Survey adds to that advantage with:

    Multiple question types - to help you ask your questions your way.

    Logic and personalization options - to help you eliminate time spent asking unnecessary questions.

    Easy reports - that simplify all the complex responses.

From creation to responses in minutes, Zoho Survey is the ideal tool for surveying.

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