Marketing Blog

  The Importance of Segmentation in Marketing By Connor Williams A common misconception business owners make is thinking they should make everyone their target audience. This may seem like it would be ideal for making a lot of money, a big target audience means there will be a large number of potential consumers. Very quickly though, they realise that it's near to impossible to make a product that perfectly accommodates everyone's wants and needs. For example, a skateboarding company would be making a mistake if they tried to sell their skateboards to the elderly. A good Market segmentation will prevent a business owner from this issue. You would use Market segmentation as seen in image 1 below: IMAGE 1 The image displays some of the different ways you can divide your target audience into smaller groups, basing them on specific characteristics. Using these segmentations will show a business a more detailed insight on the most important factors of their target audience, resultin