Profiling of customers places them into general groups which have something in common - for example age, social class, spending power, sex or buying attitudes. This is described as segmentation.

It is very unusual to find a product which is equally acceptable to all these different types of customers.

Identification of market segments whose needs are not met by existing products provides the basis of a good business.

Sometimes different segments present conflicting demands. By considering the needs of different segments and the company's strengths, it is possible to choose one or more segments on which to concentrate marketing efforts.

Choosing a segment entails gathering information about that segment, its future potential, the strength of the competition and the company strength you will bring to bear. This is targeting.

Once you have a clear idea of your existing customers, the type of people you wish to have as customers, the need you are trying to satisfy and what customers are looking for in your product or service, then you can plan your Marketing Mix.

Contact æ marketing solutions now to identify your target markets!