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An Idea A Day by David Thompson

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STRATEGY

PICK THE SEGMENTS NOBODY ELSE WANTS

Jim Blythe

THERE IS A tendency for firms to aim for the most attractive groups of customers all the time—the wealthiest, or the youngest (on the assumption that they will have a longer life as customers), or those with the highest usage rates for the product. This is fine, except that everybody else is targeting the same groups, so you can expect some fierce competition.

This was particularly the case for the older consumers. Companies assumed that elderly people on pensions would have little money to spend and would probably already have most of what they wanted. What these companies had not noticed ...

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