Segmentation and personalised marketing
Segmentation is the process of slicing up the ‘mass market’ for a particular product or service into a number of different segments, each one consisting of consumers with slightly different needs. Personalised marketing is an extreme version of segmentation that seeks to create a unique product-offering for each customer.
When to use it
- To match your various product-offerings to the needs of different segments of consumers.
- To identify parts of the market whose needs are not currently being adequately served.
- To capture a higher price for a product or service, on the basis that it is better-suited to the needs of a particular segment or individual.
The original thinking about market ...