Bite #17 Marketing segmentation (part 3)
As we continue to delve into marketing segmentation in this the 3rd video in a series, lets take a look at Segmentation by benefit. Customers vary with respect to what is the primary driving factor that influences their choice of brand. Consider cars. Some people most heavily value safety. For some, reliability is most important. For others performance is the primary motivator. What about the benefits a customer may seek when buying a new winter jacket. For some the main benefit they will seek out will be price. For others it may be style. Still more may look for the jacket with the benefit of a waterproof layer.
Always remember that segmentation provides value in two ways. It improves both the effectiveness and the efficiency of your marketing efforts. In developing a target strategy for your brand, first identify market segments – either by profit, by behaviour or by benefit.
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