A Perspective on the Design and Implementation of Market Segmentation Strategies

For most business firms, locating and specifically targeting unique market segments is both a reality and a necessity in today's competitive market place. In North America, the assumptions of the mass market no longer hold true for most businesses and product categories.

Creative and actionable market segmentation strategies often afford the business organization a strategic advantage over their compe­tition. If a firm can address its markets by way of a creative new vision of how that market is structured and operates and can uncover the needs and wants of the segments therein, then it has the opportunity to act on that vision to enhance its own profitability, often at the expense of the competition.

Market segmentations are deceptively easy to execute, but results are often stunningly useless, because organizational implementation was an afterthought rather than an integral part of the project design.

This white paper details a comprehensive set success factors and pitfalls and will provide you insights into enhancing your future segmentation research.

Keywords: Market segmentation, needs based segmentation, multidimensional segmentation, occasion based segmentation, market structure, research design