Market segmentation strategy is a powerful tool that can help companies to reach specific groups of consumers and increase their sales and revenue. By analyzing market segmentations, companies can identify the most profitable and responsive market segments and tailor their marketing efforts to meet the specific needs of each group.
Implementing a market segmentation strategy requires companies to conduct market research, identify market segments, develop a marketing plan, and measure results. By following these best practices, companies can improve their marketing communication, reduce their marketing spend, and gain a competitive advantage.
Market research KPIs such as customer satisfaction, NPS, CLV, and market share play a crucial role in market segmentation strategies. Companies can use these KPIs to measure the effectiveness of their marketing efforts and identify areas for improvement.
GfK is a global market intelligence company that can provide important assistance to companies looking to set up effective market segmentation strategies. Our team of experts can help companies to identify the most profitable and responsive market segments and develop effective marketing plans that meet the specific needs of each group.